FNB Student Loan 2024/2025

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WHAT IS A BURSARY?

According to Wikipedia, A bursary is a monetary award made by an institution to individuals or groups of people who cannot afford to pay full fees. In return for the bursary the individual is usually obligated to be employed at the institution for the duration as the bursary. According to The Good Schools Guide, a bursary is “usually for helping out the impoverished but deserving and those fallen on hard times.

According to The Hobsons UK Boarding Schools Guide, numerous independent schools have bursary capability, namely grants from the school to help pay education fees. These are usually awarded after a “means test” of family income and are not necessarily dependent on examination performance, although some account of academic ability will be taken. Bursaries may be awarded in addition to scholarships where financial need is demonstrated and the prospective student would otherwise be unable to enter the school.

To obtain such a bursary, it is customary for parents to be asked by the school’s bursar to fill in an application form, giving details of their financial circumstances, supported by documentary evidence, including capital assets. The application will be considered by the school in accordance with its bursary policy. The award will often only remain in force until the pupil has sat the next relevant public examination. Most schools will review bursaries annually to ensure that the justification for an award remains. In Britain any award made before GCSE will not necessarily continue to the A-level stage.

Bursaries are similar to “scholarships” or “prizes“, which are based on performance. These awards are generally given for good performance in the exams preceding university or college entrance in which the student achieves grades above the standard entry. These can be awarded by universities or, sometimes, by companies

THINGS TO KEEP IN MY WHEN APPLYING FOR A BURSARY

A lot of students are usually confused when it comes to scholarship or bursary application. When they have answered the most difficult question of where to start, then the other process becomes seamlessly easy for them. Basically that’s why we have decided to include this post to enable you successfully apply for bursaries especially for this year to aid your academic cause. The following are those important things to note before applying for a bursary.

1. Most bursaries will request for your Latest Academic Record duly signed from your school, your ID document, evidence of tertiary application and most importantly an authentication that you were accepted. Similarly, some bursaries will require you to provide another proof of Guardians or Parent’ source of income and residence. After successfully sorting out these documents, then your next step is to ensure you verify your documents. If you don’t know how to, simply visit any commissioner of oath at a post office, bank or police station.
2. Integrity they say is telling myself the truth while honesty is telling the truth to other people. Honesty is more than not lying. It is truth-telling, truth speaking, truth living, and truth loving. Therefore, you must ensure that whatever information you are providing is the truth and nothing but the truth. Fill all blank spaces with correct data. No legacy is so rich as honesty.
3. A whole lot of students apply for bursaries without having any references at all and in other cases have references that can’t be reached. Most times this is the first step to not getting the bursary you have applied for. If you need the bursary you are applying for and you want it, then go ahead and find references with correct contact addresses.
4. A lot of students also don’t have enough writing skills to win their desired bursary which can prove to be a stone in the neck in the long run. Therefore it is highly advisable that you write a highly convincing and motivational cover letter that will make anyone accessing it believe before he begins to even read it. Things such as why you think you should be awarded the bursary especially more than the other several thousand applying, how you can contribute to society when you have finished your program in school and especially how getting the bursary will be a stepping stone to achieving your dreams and changing your future for good.
5. A lot of students apply for bursaries and go to sleep which is very bad. When you apply for any bursary, ensure you regularly and consistently check your Emails and your phone text messages to be sure you have not or have received a message from those assessing your application.
6. Lastly, ensure you always check for bursary deadlines or closing dates so you can know exactly when to apply.

The University of Johannesburg was established in 2005 when a merger occurred between the Rand Afrikaans University (RAU), the Soweto and East Rand campuses of Vista University and the Technikon Witwatersrand (TWR).
Below is a list of bursaries specifically for UJ students (current and prospective). See which bursaries are applicable to you and follow the simple instructions on how to apply.

FNB Life Start Student Loans range from R4 000 to R80 000 (depending on the amount you need and your affordability criteria). You will also receive a personalised interest rate for your loan.

The student loan covers the cost of tuition fees, accommodation on campus and textbooks.
Students must reapply for the student loan each year, and credit is awarded based on affordability and credit assessments.

Please Note: it is mandatory that the student and sponsor have insurance cover in place in the event of permanent disability or death prior to settlement of the loan. FNB offer the Customer Protection Plan, alternatively you may use an insurance policy of your choice (to be approved by FNB).

PAYING BACK THE STUDY LOAN

Students will only be required to pay back the interest while studying and the remainder of the loan is due after graduation – there is a 6 month grace period offered before capital payments are due.

ELIGIBILITY

Applicants must satisfy the following minimum entry criteria before applying:

• South African citizen
• 18 years or older
• Registered to study at a recognised tertiary institution in SA
• Sponsor must earn at least R6000/month

HOW TO APPLY

Apply in person at your nearest FNB branch.

Alternatively, you can apply online at: https://www.fnb.co.za/Sales/salesmain.jsp (Please Note: FNB may require hard copies of your documentation after online application).
You will be required to submit the following supporting documentation:

• ID document (plus a copy)
• Parents/ sponsors ID document (plus a copy)
• Parents/ sponsors Latest payslip (1 month if FNB customer OR 3 months if not an FNB customer)
• Recent utility bill
• Proof of registration at tertiary institution
• Breakdown of fees due to tertiary institution

If you have any unanswered questions, please download the FNB Student Loans FAQs

That’s the much we can take on the topic “FNB Student Loan “.

Thanks For Reading

O3SCHOOLS TEAM