STUDENT FUNDING STUDENT FUNDING CENTRE CENTRE

Types of FundingTypes of Funding

Student Loans & Bursary/LoansStudent Loans & Bursary/Loans BursariesBursaries ScholarshipsScholarships

Estimated cost of StudyEstimated cost of StudyExample : Undergrad degree (2010):Example : Undergrad degree (2010):

Tuition (Avg)Tuition (Avg) 22 00022 000 Residence FeesResidence Fees 14 00014 000 MealsMeals 13 00013 000 Books Books 4 500 4 500 Stationery & copiesStationery & copies 2 0002 000

TotalTotal55 50055 500 Make provision for extras e.g. Equipment for labs or music, Make provision for extras e.g. Equipment for labs or music,

sports charges, travel etcsports charges, travel etc

PRESTIGE ENTRANT PRESTIGE ENTRANT SCHOLARSHIPSSCHOLARSHIPS

Valued at R30 000,00 per annumValued at R30 000,00 per annum

Top 10 Grade 12s in ProvincesTop 10 Grade 12s in Provinces

Grade 12s in IEB Schools in KZN – Grade 12s in IEB Schools in KZN – have to be in National top 50have to be in National top 50

Automatic Selection of recipientsAutomatic Selection of recipients

PRESTIGE EQUITY PRESTIGE EQUITY SCHOLARSHIPSSCHOLARSHIPS

Valued at R15 000,00Valued at R15 000,00 Top 10 African female entrants to Top 10 African female entrants to

register at UKZN in 2010register at UKZN in 2010

ENTRANT MERIT ENTRANT MERIT SCHOLARSHIPSSCHOLARSHIPS

Valued at R15 000Valued at R15 000

- - For Learners who obtained a score of 7 in For Learners who obtained a score of 7 in six subjects – excluding Life Orientation, six subjects – excluding Life Orientation, Maths Lit or Add MathsMaths Lit or Add Maths

Top 100 Feeder SchoolsTop 100 Feeder Schools

Top 10% of entrants from each of the Top 10% of entrants from each of the largest 100 feeder schools to UKZNlargest 100 feeder schools to UKZN

Valued at R15 000Valued at R15 000

Sports ScholarshipsSports Scholarships

Sports Scholarships (12) – for Sports Scholarships (12) – for students who have played sport at a students who have played sport at a National level:National level:

* Covers full tuition fees * Covers full tuition fees

* Applications reqd for Sports S/ships – * Applications reqd for Sports S/ships – 31 October of Grade 12 Year31 October of Grade 12 Year

Selection For ScholarshipsSelection For Scholarships

Done Automatically by UKZN – for Done Automatically by UKZN – for learners who wrote Gr 12 in 2009learners who wrote Gr 12 in 2009

Pre-2009 learners need to make Pre-2009 learners need to make formal applications.formal applications.

Up to a 2 year gap is allowed.Up to a 2 year gap is allowed. All Scholarships are renewable All Scholarships are renewable

subject to academic criteriasubject to academic criteria

Financial Aid AwardsFinancial Aid Awards

Financially needy studentsFinancially needy students Who have the potential to succeed Who have the potential to succeed

academically.academically. Financial Aid Application is reqd.Financial Aid Application is reqd.

LoansLoans

NSFAS Loans (with rebate) - from NSFAS Loans (with rebate) - from the National Student Financial Aid the National Student Financial Aid SchemeScheme

University of KwaZulu-Natal Loans University of KwaZulu-Natal Loans (two types)(two types)

- Rebate loans &- Rebate loans &

No Rebate loans (full amount No Rebate loans (full amount repayable)repayable)

NSFAS LOANSNSFAS LOANS

Important benefit - no suretyship Important benefit - no suretyship reqd reqd

Rebate component – up to 40%Rebate component – up to 40% Repayments once student leaves the Repayments once student leaves the

institution.institution. Interest from year in which loan is Interest from year in which loan is

awarded. awarded.

(Interest rate in 2009 was 7.6%)(Interest rate in 2009 was 7.6%)

Eligibility Criteria for LoansEligibility Criteria for Loans

South African CitizenSouth African Citizen Refugees – with SA refugee ID Refugees – with SA refugee ID

document.document. Family income below R120 000 Family income below R120 000 Full time studentsFull time students Accepted for formal degree/ diploma Accepted for formal degree/ diploma

(not self funding courses).(not self funding courses).

How to apply for fundingHow to apply for funding

Step 1 - Apply for academic admission Step 1 - Apply for academic admission through the CAO.through the CAO.

Indicate if you wish to apply for Financial Indicate if you wish to apply for Financial Aid as well. Aid as well.

Each faculty has a limited number of Each faculty has a limited number of financial aid packages.financial aid packages.

Faculty – letter advising if you are Faculty – letter advising if you are provisionally selected with Financial Aid.provisionally selected with Financial Aid.

Faculty - sends you a full Financial Aid Faculty - sends you a full Financial Aid Application to complete. Application to complete.

The Financial Aid applicationThe Financial Aid application

ID document – very important !ID document – very important ! Provide information on who supports Provide information on who supports

the family.the family. Number of dependents.Number of dependents. IncomeIncome Pay slipsPay slips Death certificates or divorce decree – Death certificates or divorce decree –

if applicableif applicable Affidavits – if applicableAffidavits – if applicable

Expected Family Contribution Expected Family Contribution ( EFC)( EFC)

Determined by the NSFAS means Determined by the NSFAS means test.test.

Amount you have to contribute.Amount you have to contribute. Amount varies from family to family.Amount varies from family to family.

Notification of FundingNotification of Funding

Ensure that FA application is Ensure that FA application is returned quickly to the Student returned quickly to the Student Funding Centre.Funding Centre.

Payment of R500 acceptance Payment of R500 acceptance deposit.deposit.

Award letter from the Student Award letter from the Student Funding Centre.Funding Centre.

Financial Aid CoversFinancial Aid Covers

Tuition FeesTuition Fees Residence fees or Rental AllowanceResidence fees or Rental Allowance Meal AllowanceMeal Allowance Book AllowanceBook Allowance Home/Travel AllowanceHome/Travel Allowance

BursariesBursaries

Internal and External Internal and External Not repayable. Not repayable. Sometimes contractual obligations to Sometimes contractual obligations to

the sponsor.the sponsor.

Internal BursariesInternal Bursaries

Entrants are done after June exams.Entrants are done after June exams. Selections according to donor criteriaSelections according to donor criteria Income below R130 000 p.a.Income below R130 000 p.a. Academic performance very Academic performance very

important (min 65% aggregate)important (min 65% aggregate) Financial Aid application reqdFinancial Aid application reqd

External BursariesExternal Bursaries

Student applies directly to the Student applies directly to the sponsors.sponsors.

Corporate, Governments or NGOCorporate, Governments or NGO Adverts in newspapersAdverts in newspapers Bursary register from CNABursary register from CNA Website – Website –

www.ukzn.ac.za/studentfund Closing dates are very important!Closing dates are very important!

Financial Clearance/ RegistrationFinancial Clearance/ Registration

Scholarship students are automatically Scholarship students are automatically cleared for registration.cleared for registration.

Bursary students – once we receive Bursary students – once we receive sponsorship letterssponsorship letters

Loan students – as soon as they have Loan students – as soon as they have been allocated funding.been allocated funding.

Self funded – cash deposits (R3 000 & Self funded – cash deposits (R3 000 & R2 500 if in residence)R2 500 if in residence)

Selected without FundingSelected without Funding

Options:Options:• Bank loansBank loans• Credit card paymentsCredit card payments• Debit OrderDebit Order• Edu-loansEdu-loans

Renewal of Financial AidRenewal of Financial Aid

A new application is required for A new application is required for each year.each year.

Apply in advance – by 31 August Apply in advance – by 31 August 2010 for 2011 funding.2010 for 2011 funding.

Applications open 1 June 2010.Applications open 1 June 2010. Take note of closing dates for Take note of closing dates for

corporate and external bursaries. corporate and external bursaries.

ConclusionConclusion

Funding is dependent Funding is dependent on good results. on good results.

Will require Will require commitment commitment ANDAND effort . effort .

A qualification… is A qualification… is one of the most one of the most valuable investments valuable investments a young person will a young person will make towards their make towards their future.future.

Student Funding CentreStudent Funding Centre

Office Location Office Location

Help Desk Tel : Help Desk Tel :

031 260 7912 – Westville Campus031 260 7912 – Westville Campus 031 260 2231 – Howard College031 260 2231 – Howard College 031 260 3603 – Edgewood Campus031 260 3603 – Edgewood Campus