Bursary FAQ’s – we answer your questions
When you apply for a bursary, it can be an exciting opportunity to fund your studies. However, you may also find yourself faced with many questions and misconceptions regarding the allocation of potential funds. In this article, we will discuss and answer some of the common questions students have regarding bursary opportunities.
Who qualifies for a bursary?
Many people think that bursary is only awarded to top achievers and/ or the most financially needy candidates. Whilst this is mostly true, several bursary awards are offered to students who achieve above-average marks (e.g. overall aggregate of 60%) as well as those who do not necessarily come from an excessively disadvantaged background. It is, therefore important that you conduct the necessary research about various bursary opportunities and their specific requirements.
There are also many different bursaries available within South Africa, namely government, corporate, and Broad-Based Black Economic Empowerment (B-BEE).
It is important to note that you can secure this funding before or during your studies. This means that if you enroll in a university without bursary funding, you are advised to continue with your bursary applications and research. As you progress with your university studies, you can secure a bursary opportunity to fund the remainder of your tertiary studies.
Do you have to pay your bursary back?
The first thing you will have to understand is the difference between a bursary and a student loan. A student loan is an amount of money you borrow from an organization (such as a bank) to fund your studies. With student loans, you will have to pay the amount back along with interest once you have completed your studies and are successfully employed. Often, student loans are paid off through monthly installments.
A bursary, however, sponsors a student either directly or indirectly via a third-party company. Bursaries often cover tuition as well as other costs such as accommodation, food, and books. Although this sounds fantastic, you must make sure to always read the bursary contract to see what is covered and what obligations you may have.
Bursaries are awarded based on a number of criteria such as being from a specific surrounding community, financial need, academics, and more. Most bursaries do not require students to pay the sponsors back, however, some may require students to enter a work-back obligation once they have graduated.
Do you have to work for the bursary provider after you graduate?
The answer to this question varies from one bursary opportunity to another. This depends solely on the terms and conditions of the bursary as well as the nature of the bursary. Therefore, it is imperative that you read the bursary contractual terms and conditions as it will outline the obligations of funding for both the sponsor and the student.
Some bursary opportunities require students to pay back the award, not monetarily, but rather by working for the bursary provider once they graduate. This can be seen as a positive as it guarantees students employment post-graduation. However, owing to some students not wanting to work for their funder once they graduate, some bursary opportunities may agree to buy the student out of their bursary agreement by the company they wish to work for.
Can you have multiple bursaries?
Having multiple bursaries is often not encouraged as it could lead to legal consequences, however, it is permitted if it is conducted ethically. In some instances, bursary funding may be a capped amount, and may not be enough to cover all your necessary expenses as a student. In this instance, another form of funding may be needed to cover the remaining costs. Be sure to fully disclose and discuss this with your potential/ current bursary provider to avoid any fraudulent behaviour or criminal consequences.
When is the best time of year to apply for bursaries?
There are bursaries open throughout the year – visit our bursaries open for application page at any time to find bursaries available for application.
However, it is advised to apply for bursaries early in the year (preferably after June/ July exams) to ensure you have funding in order for the next academic year.
What can I do if I don’t secure a bursary?
Unfortunately, due to limited funding, not everyone that applies for a bursary will be able to secure one. If you have not been able to get a bursary or scholarship, a student loan may be your second option. Have a look at our student loan page for more information.
Read our other tips and articles here:
Read our top tips on submitting your bursary application for the best chance of success.
Read our tips on how to write a bursary motivational letter here.
Read about how to prepare for a bursary interview here here.
Read about the various ways to get free education in South Africa.
Read about the National Benchmark Test (NBT) for University Entrance.
Are you following us on social media? We post our latest bursary opportunities and reminders of bursaries closing soon on Facebook, Twitter and Instagram.
This post was last updated in November 2022.
SA Bursaries wishes you the best of luck with your application! Please remember to SHARE this page with anyone you know who may be in need of bursary funding.