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How to fund your education in a tough economy

DURING this year’s budget, National Treasury allocated R433bn of its R2trn budget towards education. More than half of this funding (R282bn) went towards basic education. Of this, R46bn was allocated towards the National Student Financial Aid Scheme (NSFAS).

Programmes such as NSFAS are crucial in helping to provide financial support to disadvantaged students who wish to further their studies at public universities or TVET colleges.

However, in recent years, NSFAS has experienced funding constraints.

Also, NSFAS only caters for students in public education institutions, and it doesn’t assist the growing number of private colleges and universities in our country.

Therefore, many young South Africans who are looking at ways to fund their studies.

Below are just a few of the possible funding options.

  • Corporate bursaries
  • Support from family, friends
  • Payment terms from education institutions
  • Student financing options
  • Banks

All these options require a lot of research, and if you need any further advice, you should speak to a certified advisor or professional to help you.


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