Financial Aid

Student Financial Aid Scheme: How to Apply for Student Loan.

Financial Aid

Financial aid is a money given to help pay for college or career school. Grants, work-study, loans, and scholarships help make college or career school affordable. Check out below to learn about financial aid grants, loans, and work-study jobs and how they can help fund your education.

Types of Financial Aid: Loans, Grants, and Work-Study Programmes

Grants

A grant is a form of financial aid that doesn’t have to be repaid (unless, for example, you withdraw from school and owe a refund, or you receive a TEACH Grant and don’t complete your service obligation). A variety of federal grants are available, including:

Pell Grants
Federal Supplemental Educational Opportunity Grants (FSEOG)
Teacher Education Assistance for College and Higher Education (TEACH) Grants.

Scholarships

Many nonprofit and private organizations offer scholarships to help students pay for college or career school. This type of aid, which is sometimes based on academic merit, talent, or a particular area of study, can make a real difference in helping you manage your education expenses.

Work-Study Jobs

The Federal Work-Study Program allows you to earn money to pay for school by working part-time. You’ll earn at least the current federal minimum wage. However, you may earn more depending on the type of work you do and the skills required for the position. Your total work-study award depends on

when you apply,
your level of financial need
your school’s funding level.

Loans

A loan is money you borrow and must pay back with interest. If you apply for financial aid, you may be offered loans as part of your school’s financial aid offer. When you receive a student loan, you are borrowing money to attend a college or career school. You must repay the loan as well as interest that accrues. It is important to understand your repayment options so you can successfully repay your loan.

Financial Aid In South South

In South Africa, there are many financial aid that can help students further their higher education. Some of this aid is National Student Financial Aid Scheme (NSFAS), South African Social Security Agency (SASSA), etc.

We will basically look into Student Financial Aid Scheme (NSFAS)

The National Student Financial Aid Scheme (NSFAS)

This is a financial assistance for students in South Africa. It is a South African government student financial aid scheme which provides financial aid to undergraduate students to help pay for the cost of their tertiary education after finishing high school.

It is funded by the Department of Higher Education and Training. The program also manages bursaries such as the Funza Lushaka Teacher Bursary (for students pursuing a teaching qualification).

Eligibility for the Funza Lushaka Teaching Bursary is fairly broad, yet specific enough to ensure that candidates with a genuine passion for teaching and education are selected.

Are you in need of financial assistance to study at a tertiary institution? Apply for a National Student Financial Aid Scheme (NSFAS) bursary.

To apply, visit https://www.nsfas.org.za

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Financial Aid

Student Financial Aid Scheme: How to Apply for Student Loan.

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