What is a Bursary? A bursary is a gift provided to financially needy students that doesn’t require repayment. It’s awarded to students with excellent academic results who are capable of completing their degree within the minimum duration.
Criteria for Student Funding Administered Bursaries:
- Available mostly for returning undergraduate students at UKZN.
- Financially needy applicants with a Gross Family Income not exceeding R600,000 per year.
- Must have paid 100% of registered courses in the previous year’s exam sessions.
- Achieve an average mark above 64.5% in the same courses.
Value of Bursaries:
- The value may vary based on specific sponsor decisions but won’t exceed full study costs.
- Higher average marks result in higher bursary values.
- In 2024, a student achieving above 74.5% may be awarded R25,000; between 64.5% and 74.5%, R12,500; and between 54.5% and 64.5%, R7,500.
Sources of Bursaries:
- Usually derived from Deceased Estates or Company Social Responsibility monies.
- Adjustment may occur for students on NSFAS Loan/bursaries or external sponsorship.
Main Sponsors of Internally Administered Bursaries:
- The Emma Smith Educational Trust
- The Cecil Renaud Educational Trust
- The Victor Daitz Foundation
- The Terry & Gladys Champaign Educational Trust
- The United Kingdom Trust
Contract Bursary:
- Offered by companies or organizations, requiring recipients to work for the donor for at least one year for every year sponsored.
External Trusts Administered by Student Funding:
- Automatically considered when applying for Financial Aid.
- Include benefactors like the Ackerman Trust, Victor Daitz Educational Trust, and more.
SRC Trust Fund Bursary:
- Administered by Student Funding, aimed at assisting students with registration fees.
- Gross Family income limit for this bursary is R350,000 per annum.
- Applications are accepted yearly at the start of the academic year.