- 1. What is a Bursary?
- 2. What is a Loan?
- 3. Bursary/Loan Conversion
- 4. Repayment Terms for Loans
- 5. Bursaries Available from the WCED and National Education Department
- 6. Bursaries Available from Further Education and Training (FET) Colleges
- 7. Bursaries Available from the University of the Western Cape
- 8. Conclusion
Further and higher education and training are crucial for personal and social development. Unfortunately, many students, especially those from impoverished communities, cannot afford the cost of pursuing higher education. The Western Cape Education Department (WCED) offers financial aid to academically deserving and financially needy students in the form of bursaries and loans.
This leaflet provides information about the various bursary programs offered by different institutions, including FET colleges, universities, and national and provincial education departments. It also explains the difference between a loan and a bursary, and the repayment terms associated with each one.
What is a Bursary?
A bursary is a financial award given to students based on a combination of financial needs and academic merit. The WCED and other educational institutions offer bursaries to help students in need cover the cost of tuition fees, textbooks, accommodation, and other expenses associated with further and higher education and training.
Unlike loans, bursaries do not have to be repaid once the student has completed their studies. However, if a bursary recipient fails to meet certain academic requirements or drops out of the program, they may be required to repay a portion or all of the bursary amount.
What is a Loan?
A loan is a sum of money borrowed by a student to cover the cost of their studies. Once a student completes their studies and starts working, they are required to repay the loan, usually with interest. Loans are offered by banks and other financial institutions, as well as by government and educational organizations.
The WCED bursary program offers students the opportunity to convert up to 40% of the bursary amount into a loan. This conversion is dependent on the student passing all their modules in the given year. If a student fails to pass some or all of their modules, the bursary component is reduced proportionately, and the unpaid portion is treated as a loan that must be repaid.
Repayment Terms for Loans
Loan repayments are usually based on individuals’ earnings, and interest is charged at a subsidized rate, which is considerably less than the commercial rate charged by banks. Repayments begin once the student starts earning a salary. All tertiary institutions have financial offices that can assist prospective students with applying for either a bursary or a loan.
Bursaries Available from the WCED and National Education Department
The WCED offers bursaries to prospective teachers who are interested in pursuing Mathematics and Physical Science. Interested learners can contact Mr. Alfred Shasha at 021 467 2550 or email email@example.com for more information.
The National Department of Education offers the Fundza Lushaka bursary to students who are interested in teaching African Languages, English Language, Mathematics, Technology, Mathematical Literacy, Life Science, and Physical Science. Interested learners can contact the institution of their choice or Mr. Alfred Shasha at 021 467 2550 or email firstname.lastname@example.org for more information.
Bursaries Available from Further Education and Training (FET) Colleges
FET colleges offer various bursaries to prospective students. One of the most popular bursaries is the iKapa Elihlumayo bursary. This fund previously provided iKapa Elihlumayo Loans. However, the colleges have now discontinued the allocation of loans in favor of providing non-repayable bursaries for really needy students.
Prospective students who wish to enroll in the new National Certificate Vocational programs can access bursaries that are available through the National Student Financial Aid Scheme (NSFAS). Students can also inquire about the TECSAT bursaries that are available to students across a wider range of courses. Students can secure a bursary by visiting their nearest FET College, selecting a preferred course of study, and then asking for financial assistance. College personnel is happy to provide students with guidance on the application process.
Bursaries Available from the University of the Western Cape
The University of the Western Cape (UWC) offers several categories of financial aid to students who are unable to meet the full cost of studying at UWC. Prospective students are advised to apply for financial aid from as many sources as possible.
The Work-Study Program has offices on the 3rd floor of the Student Centre and can be contacted at Tel: 021 959 2119, Fax: 021 959 1338, E-mail: email@example.com.
UWC-administered bursaries and loans are available through the UWC Financial Aid office, the National Student Financial Aid Scheme (NSFAS), and the New First Year Merit Awards. Students can contact the Financial Aid Office for further details at Tel: 021 959 3114, Fax: 021 959 1267, or Email: firstname.lastname@example.org.
WCED bursaries are an opportunity for deserving students to pursue further higher education and training without being hindered by financial constraints. Bursaries can make a significant difference in the lives of students and their families, as education is often the key to a better future. WCED bursaries are just one of the many options available for students seeking financial assistance. The institutions discussed above offer a wide range of bursary programs that students can explore to determine which one best suits their needs.