Bursaries vs Study Loans- Know More!

South Africa is home to so many universities but the biggest challenge to many students is that they can’t afford to put themselves throughout varsity. There are mostly two different ways you can be able to further if you are not able to fund yourself, either by applying for a student loan or get a bursary .

Bursary or Scholarship

A bursary is a monetary award that is granted on the basis of financial need to students from different financial institutions, national, provincial or local government, it can be trusts, educational institutes or religious organisations. Repayment is often done by working for the organization once the beneficially is qualified.
Types of bursaries you can consider in South Africa
There are a lot companies that offer bursaries these days in South Africa. Do research online and also inquire at your specific college/ university.

Click here to apply for bursaries that are still open for 2015

Study Loans
Loans are awarded to applicants based on their need and family income. It is always linked to interest rates, if you receive a loan, you are required to repay the loan in full as well as the accumulated interest and they have different repayments schedules depending on the type of the loan.

Types of study loans you can consider in South Africa

Eduloan is the leading education finance specialist, operating in Southern Africa, catering for all levels of tuition.

Bank Study Loans can be used to pay your study fees, textbook bills and related costs. It can help you make the most of your resources.

NSFAS is the South African government student loan and bursary scheme which provides loans and bursaries to students at all 25 public universities and 50 public TVET colleges throughout the country.