Financial Aid at TUKS
Despite universities being heavily subsidized by government, often-times families take significant financial strain in their endeavour to cover university expenses. Most tertiary institutions, however, have programs in place to aid those in financial need. The University of Pretoria is no exception. With first year fees ranging between R30 000 and R55 000, many students need some form of financial help.
Financial Aid at TUKS comes in various forms, namely:
- Financial support
- External bursaries
- Student bank loans
- Achievement awards
Below is a description of each one. Take note, because one of these options might just enable you to get a degree from the University of Pretoria.
Financial Support
The University of Pretoria offers financial aid to high achieving students in need. When applying, it is important to remember that you will have to provide bank statements proving your eligibility for financial support. The amount of support you receive will be dependent on the severity of your financial situation as well as your academic results.
Online applications open on the first of August every year and close on 30 September. Applications need to be filled out the year before studies commence. This application also extends to the NSFAS who can grant a maximum loan of R67 200. The university managed loans range from R500 to R20 000. These loans must be repaid at the end of studies at an interest rate of prime -1%.
To apply, check out this link.
Additionally, for step by step instructions on university loan applications, check out this link.
What you need to apply:
- Bank statements if self-employed.
- ID document or passport including certified copies for applicant and guardians.
- Academic results, either matric results or most university results.
Proof of basic salary for last 3 months. - All documents may not be older than 3 months.
External Bursaries and Scholarships
Many companies offer students bursaries or scholarships for their time at university. Often, these companies will cover all costs, from tuition fees to accommodation and sometimes even spending money. Students looking to apply for such bursaries should have strong academic results and promising testimonials. It is most common that the bursary be repaid by the student. This can be done by working for the company after the completion of his or her degree. This means that the student is guaranteed a job straight out of university as well as having his or her degree entirely paid for.
Check out the biggest SA bursary listing on EduFunding.
Student Loans
Banks offer loans specific to student needs. These student loans are offered at lower interest rates and must be used for tuition fees and other university related matters. It is important to know that the full amount becomes due if the students fails or drops out of university. Supporting documents include proof of registration for university and bank statements.
See examples of how student loans are structured here:
- FNB
- Standard Bank
For more information on everything you need to know about student loans check this out.
Achievement Awards
The University of Pretoria offers money back to students who achieve high marks in high school. The amount of money the student gets back is dependent on the faculty and the student’s results. This money does not need to be repaid to the university. In addition, the scholar who graduates as dux (highest achiever in academics) in grade 12 in any school receives R7500 back on their tuition fees. To see how much money the university gives back to you, check out this link.
Important extra info
It is important to note that financial aid depends on the applicant’s academic results and the family’s gross income. Generally, financial aid will not be granted to applicants who have families with an annual gross income of R180 000 or over. Once a student is on financial aid, they can manage their student account on the UP student portal here. Also note that existing students can apply on their student portal as well.
My Advice
Often, students are under the impression that they will never receive financial help and as a result do not even bother applying. Take the time and put in the effort! There are hundreds and thousands of available options, and there is absolutely no harm in applying. So my advice is to get your name out there, fill out applications and be relentless.
Also, put effort into compiling a comprehensive curriculum vitae. Most applications require you to submit a CV, so have one prepared and ensure it is of a high standard.