Education and Training Minister Blade Nzimande said on Monday that R150m has been set aside to finance students who are studying courses that will address South Africa's skills shortages.
Nzimande said that the National Student Financial Aid Scheme (NSFAS) would receive the R150m funding to address scarce skills from the National Skills Fund.
He said the allocation was part of a process to consolidate all sources of bursaries and loans under the NSFAS.
Of the R150m there would be an allocation of R22.9m to 820 first year students; a R7m bursary scheme targeting rural students who have done well in the 2010 National Senior Certificate examinations and R21m allocation for 300 first year bursaries for students with disabilities.
He said the balance of R99.1m would be allocated to students who were already studying in the fields where there was a scarcity of skills.
However, there are still many students who need to seek alternative funding if they want to further their studies.
If students cannot get a bursary, the best option is to apply for a student loan. The repayment terms of student loans will depend on a variety of different options.
If you have just left school and you want to further your education, consider applying for a student loan with Justmoney.co.za.
State makes funding available for skills shortage
Recent Articles
Featured How are you taxed on your retrenchment package?
Unemployment is one of the biggest problems in South Africa. The emergence of the Covid-19 pandemic has exacerbated the situation with a lot of companies retrenching their employees. When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for?
Car repossessed – don’t be taken for a ride
When the country is facing an economic downturn, chances are your finances will feel the pinch. This can lead you to make bad financial decisions such as skipping your vehicle payments. But every decision has consequences and if you don’t pay your instalment, the bank will repossess your car. But what can you do when this happens?
Why you should consider gap cover
Your medical aid should protect you from incurring large medical bills when you’re sick. But what if your plan doesn’t cover the full cost of your medical expenses? We got in touch with insurance experts to find out whether gap cover is worth having.
Debt relief - What is your bank offering?
Going through a financial crisis is stressful whether it be as a result of losing your job, being short-paid, having to fork out towards an emergency payment, or finding yourself in the midst of a global pandemic. This is especially taxing if you have a debt to service. It is against this backdrop that banks are increasingly offering payment holidays. Justmoney looks at the various debt relief options available to you from the big five banks.
Deals
Premier Hotel and Resorts Special For Senior Citizens
Price: Available on request
When: Daily
Where: Nationwide
The President hotel 10% discount for locals
Price: Available on request
When: Until 31 October 2020
Where: Cape Town
Get 40% off when you book your stay at Colosseum Hotel
Price: Available on request
When: Until 13 December
Where: Cape Town
Our suppliers and companies we review
