According to Higher Education and Training Minister, Dr Blade Nzimande the National Student Financial Aid Scheme (NSFAS) during the current financial year has been unable to finalise funding for new university students, due to a shortfall for 2021. One of the major reasons cited was the effect of COVID-19 as well as continued tough economic conditions and budgetary constraints that all government departments faced.
Mail & Guardian recently reported that NSFAS received 790 000 new applications for the academic year surpassing applications received in previous years. This highlights the current funding crisis and the need for a sustainable funding solution to be sought in light of other funding constraints the country continues specifically regarding COVID-19 and the need to increase vaccination capacity.
What other options do I have apart from NSFAS?
There are various different options that students applying and looking for funding next year can explore in order to stand a better chance at securing funds.
University Financial Aid
Universities around the country offer student aid to students that have performed well academically and are financially in need. There is various requirements dependant on which university you’ll be attending. Usually students are notified by email from the universities they have applied to if they qualify for financial aid, however students may also enquire with the appropriate university department to assess if they are eligible for financial aid.
External Bursaries and Scholarships
Various corporates and institutions around the country offer bursary and scholarship programs to fund students across the various different universities. It is imperative however to apply timeously and ensure that you meet the minimum eligibility requirements. Dependant on your chosen area of interest there is a variety of different external bursary options to consider. The key to finding a bursary is doing your homework by understanding what bursaries you qualify for and more importantly applying as early as possible to ensure you miss the last minute rush that happens every year.
How can Xhuma help?
At Xhuma we’ve created a revolutionary bursary application system that lists some of the leading corporate bursaries in the country. Not only this but you can apply for over 50 leading corporates for funding opportunities all from your mobile device either using your web browser or Whatsapp. At Xhuma we are passionate about connecting students with relevant funding partners to help them peruse their dreams. Don’t waste any time, fund your academic dreams today by starting an application here
To learn more about how the Xhuma Bursary process works click here
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