Funding your studies

Funding my studies

We all need a little financial help once in a while, and if it about financing your studies, it might mean more than a little. If you’re thinking about how you’re going to pay for your degree, you’ve come to the right place. What kind of funding opportunities are offered?

Loans, Bursaries & Scholarships

What’s the difference?

Loans

Loans are awarded based on student need and family income. They are also always linked to interest rates. If you receive a loan you would be required to repay the loan in full as well as the accumulated interest.

Bursaries

In return for funding your studies, a company that has given you a bursary may require you to repay them by signing a work contract with them after graduation. Another type of bursary is a donor bursary. This is a bursary awarded to a deserving candidate in a specific field of study or in recognition for their hard work in that field.  

Scholarship

A scholarship is a financial award usually given to students based on their outstanding academic achievements. Recipients of scholarships are not always expected to repay or work back the money they receive.

Tips

How can I improve my chances of receiving funding?

Start looking for funding opportunities well in advance. Opportunities for funding are often announced months before the deadline to register for a degree. Keep your marks up. Many financial awards are based on academic merit, with only a few available for financial need alone. If you’re to prove you deserve the award the most, you’ve got to be the best at what you do.  

Don’t be afraid to ask for help, guidance and information: Campus has several offices you can go to for help. You can always start at the international office, the financial aid office, and the post graduate funding office in the clock tower administration building if you’re a post-grad. Staff members are available to advise students on what their funding opportunities are and to help with submission of applications for funding. You should also speak to researchers and potential supervisors because they may have access to grant holder bursaries.

For Postgraduate funding advice…

Look at your options

Financial assistance for university comes in various forms. Some are administered by the university itself and others by external agencies and donors. Look into options given by your own country to study abroad.

Keep in touch

Follow Facbeook and Twitter pages of big companies that are known for offering bursaries in your field. You can also register with their online websites and receive emails. This way you won’t miss announcements about bursaries, scholarships and other opportunities. You can follow universities on Twitter as well and subscribe to relevant newsletters for updates.

Prepare for a balancing act

Apart from a few fellowships, most financial support is only partial. This means funding your studies (and your living expenses) is likely to involve a combination of scholarships or bursaries and part-time employment, or loans. Consider all your funding options and be realistic about how you can fit the sources together to fund your studies.
Ask for help, guidance and information

Do your research

Research Financial aid and what they’re requirements are. Rhodes offers a range of material to help students find funding for their studies. Many booklets can be obtained from their website.