What a Bursary?
A bursary is a grant of money that is given to a student by a company or organization to fund their tertiary education. Bursaries are provided to students who have either high academic results or are considered to be in need of financial assistance. Bursaries do not need to be repaid. The only case of repayment occurs if the student has failed the degree or course.
Different Types of Bursaries
Bursaries may be established through major private companies, government departments, the tertiary institution to which the student is applying, or academic foundations. Certain sources of bursaries cover the full cost of tuition while others contribute to a portion of the tuition fees.
Private companies and government departments - In the case of private companies and government departments, most of them cover the full tuition costs and surplus for transport needs and study materials. They also have the expectation that the student will be employed at the company for a predetermined amount of time after the student has qualified. This may have its benefits as it not only secures funding for studies but also the student is assured of a job once they graduate.
Organizations and academic foundations - In the case of assistance from organizations and academic foundations, the monetary subsidiary is sometimes less than that of major private companies. They may contribute a small amount toward the tuition fees during each year of study.
Tertiary institution - Bursaries through the institution at which the student will be studying is particularly competitive and is usually awarded to students with outstanding academic or sporting performance and potential.
How to Apply for a Bursary
- Firstly you have to gain a good understanding of the course you want to pursue.
- Once you know what course you want to undertake and which field it falls under, then go about finding the company which best suites your course.
- For example if you want to study engineering the best companies to solicit bursaries from would be Eskom, Nampower, De Beers etc, for Information and Communication Technology (ICT), try firms such as Telkom, Telecom Namibia, Vodacom etc.
- After ascertaining whether these companies do offer bursaries, you can then call their human resources department to enquire about the bursaries.
- All companies have different procedures, in some cases bursary seekers have to call and ask for application forms and in others they write letters of interest and motivation in applying for a bursary.
What are the Requirements for Applying for a Bursary?
The best option is to contact the organization or company that you are applying to. In many cases the awarding of bursaries has certain requirements. For instance, the student has to be a SADC country resident, may have to undertake a period of employment for the company on the completion of the course or degree, have to have at least a matriculation or equivalent qualification etc.
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