What is a Bursary: A Step-by-Step Guide for Students in South Africa 

What is a Bursary: A Step-by-Step Guide for Students in South Africa 

If you have been trying to figure out ‘what is a bursary’ and how does it work. You’ve stopped into the right post.

In this post we will be covering all your questions about what a bursary is, how to apply for one, current bursaries available in South Africa for 2024, and more.

Let’s get started.

1. What is a Bursary?

A bursary is a financial aid that is awarded to students who want to study further at a university or college but lack the funds to do so. The bursary is given to them based on merit and financial need.

These funds will cover things like registration and tuition fees, accommodation, transport, food, an allowance, and more. Depending on the bursary terms.

Usually, the applicant's marks and monetary circumstances are thoroughly investigated by the bursary committee and pitted against other candidates before making a decision. 

The student offered the bursary does not have to pay it back after completion.

2.  What is a Student Loan?

A student loan is money that is borrowed to students to cover their learning costs at an institution of higher education. This money is given by financial aid schemes such as NSFAS through the NSAFS loan, or via banks like Standard Bank and more.

Students who are awarded this type of financial assistance must, unfortunately, pay it back through monthly installments with a certain interest rate attached. 

3. What is The Difference Between a Student Loan and a Bursary?

Both a bursary and a student loan offer monetary aid to students who can’t afford university or college fees. However, there is one major difference between them. 

Students with a bursary do not have to pay it back after studying. While students with a student loan must repay the borrowed money as per the terms and conditions of the bank or financial aid scheme.

4. How to Apply for a Bursary?

Applying for a bursary differs from bursary to bursary as each bursary committee has its own criteria and application process. However, the standard method is as follows:

• Read bursary requirements

• Gather all requested documents such as ID, school results, proof of income, motivational or recommendation, etc

• Fill out the application form online or physical form and send it to the given email or physical address 

• Await a response from the bursary team. If approved further details will be given to you. After that is done funds will be sent to you (for personal use) and to the institution (for tuition and registration fees).

5. Which Bursary is Now Open for 2024?

If you are looking for bursaries still open for 2024 then you are in luck as there are some organizations still offering student bursaries to students requiring extra financial help.

You can view the list of some of the bursaries still open for 2024 here: 17 Bursaries Still Open for 2024 in South Africa.

How to Select The Right Bursary for Your Course

Here are some useful tips to guide you in applying for a bursary in your field:

1. Do Your Research: Look online and in your community for bursaries that match your program and needs. Ask teachers, counselors, classmates, and family for assistance as well.

2. Check Eligibility: Make sure you qualify for the bursary before applying. Some bursaries have specific requirements like grades or financial need. So ensure that you meet most, if not all of the requirements they have stated in the advert.

3. Apply Early: Most bursaries have deadlines, so don't wait until the last minute to send in your application. Applying early gives you more time and a better chance of getting the bursary.

4. Prepare Your Documents: Gather all the documents you need, like school transcripts, recommendation letters, and proof of income. Keep them organized and uploaded on your device to make them easier when applying. Do not forget to certify copies of your documents such as your ID, certificates, etc.

5. Write a Strong Application: Take your time in filling out the application form. Be honest and explain why you deserve the bursary. Show your passion and goals for your education. Do not use AI tools. Write it yourself from the bottom of your heart.

Conclusion

Getting funding for your course is important. Especially if you currently need the means to cover your fees. Since there are many financial aids available it can be confusing as to what means what. Researching more about this will help in making things clearer for you.

Good luck with your journey to discovering the best bursary for your program.