Financial Aid Frequently asked questions
What is the difference between a student loan, a scholarship and a bursary?
- Student Loan: National Students Financial Aid Scheme (NSFAS): The student is expected to pay back the capital amount plus interest.
- Bursary: The student does not have to pay back any amount of money but some students have work back conditions.
- Scholarship: An amount of money given by a school, college, university or other organization to pay for the studies of a person with great academic ability but limited funds.
How do I know which of these three options is best for me?
The one that’s best for you is the one where you meet its requirements and which suits your needs.
Who qualifies to apply for NSFAS?
- NSFAS is available to a Technical and Vocational Education and Training (TVET) College students in form of a bursary.
Does the Department offer bursaries to TVET College students other than the NSFAS?
Yes, The Department of Higher Education and Technology (DHEST) has established the DHEST TVET College Bursary Scheme for financially needy and academically talented students and these are full bursaries that do not need to be paid back.
Does the department offer any financial assistance to study at private colleges and private universities?
Do I have to be an average student to qualify for a bursary or scholarship?
You don’t necessarily have to be an A-average student; but you do need to meet the requirements of our College.
What can I do to better my chances of receiving financial aid?
You have to lodge your bursary application with various financial aid schemes for which you meet the requirements / criteria for granting a bursary.
If my parents have a low income, can I still qualify for a bursary?
Yes; but it is also dependent on the requirements of the specific student bursary application through a MEANS TEST.
What if I'm an orphan?
You still have to lodge a bursary application like everyone else and you have to meet the requirements/ criteria.
Must I be admitted to study at Goldfields TVET College before I can apply for financial aid?
No; you can lodge applications for admission as well as for financial aid simultaneously.
When should one start applying for financial aid?
It is advisable to apply for financial assistance a year preceding your academic year. You will have to contact us in regard to the specific deadline for the submission of bursary applications.
Who qualifies for a bursary?
- A South African citizen with a bar-coded identity document.
- Enrolled at our College.
- It is also dependent on the requirements of the funder. However in most instances you will be required to be in dire need of financial assistance and be able to demonstrate potential for academic success
If I qualify for a bursary or loan during my first year, does this better my chances of a second year bursary loan?
It does not necessarily better your chances of a second year bursary or loan; you will still be required to lodge an application and meet the requirements and terms and conditions of the loan or the bursary.
Where can I go to for advice on financial aid if I don't have internet or computer access?
- You can contact Goldfields TVET College Student Support Services @ 057 910 1600/ 1651/1626/1610/1615 for assistance and more information.
- You can also contact the DHET call centre @ 0800 87 22 22 or the Career Advice Helpline at 086999 0123 for advice as well as NSFAS head office on 021 763 3232