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2014 Funding Developments
The University of Cape Town is committed to providing a broad based financial assistance programme as outlined in this website, However we understand that, for the 2014 academic year, the National Student Financial Aid Scheme (NSFAS) intends to introduce a Central Application System which may impact on the financial assistance policies we have outlined. While we are unable at this stage to pinpoint the impact this may have, we do guarantee that no student/applicant who qualifies for Aid will pay more than the expected family contribution we have determined. Thus, depending on your family circumstances, you may well be eligible to attend UCT for as little as R1 000 total contribution.
Financial aid is comprehensive funding based on approved costs of study. The most financially needy students could pay as little as R1 000 or less towards their cost of study each year.
Eligibility criteria for financial aid
Applications for financial aid include application for any NSFAS funding.
All applications are checked against the following eligibility criteria:
South African citizenship or permanent residency (conditions apply)
First undergraduate qualification
Applicant must not be under administrative order
Expected Family Contribution towards Studies
UCT uses the government’s National Means Test to determine financial eligibility. The test calculates an Expected Family Contribution (EFC).The EFC is the only amount that you and your family/guardian need to contribute towards the approved cost of attendance.
Students are encouraged to apply to other bursars to assist with paying the EFC. The EFC replaces the initial upfront payment required for registration and must be paid before the end of June.
Note: No student should pay more than their EFC, unless they incur costs not covered by financial aid policy.
UCT Financial Aid Package
The financial aid package at UCT is a combination of a set value bursary (UCT Administered bursaries) and a NSFAS loan (National Student Financial Aid Scheme) to meet the balance of costs after your EFC.
The approved cost of attendance (COA) is the policy parameters set by the University to determine how much financial aid you need to study. This is the basis of the financial aid package. Note that all bursaries and loans are paid directly to your fee account.
UCT Administered bursaries
The Bursaries provided are non-repayable, in other words it is free. The set value bursary is based on whether you are local or an out- of- town student. You will then be offered a NSFAS loan to a maximum of R56 000.
Set Value Bursaries:
R35 000 minimum bursary to students staying in a university residence or private accommodation across all years of study on a full course load. This includes local students approved for residence or private accommodation.
R20 000 minimum bursary for a local student living at home, across all years of study on a full course load.
If you have a shortfall because the study costs are high (like Medical students) then we will provide top up (additional) bursary funding. Remember, you will not pay more than your EFC unless you incur costs not covered by financial aid policy.
NSFAS Loan Offer
Through the National Student Financial Aid Scheme (NSFAS), the Government makes loans available to enable students to meet the cost of tertiary education. The exact loan amount will be subject to your approved cost of attendance.
The loan requires no surety and is interest free while you are studying. In addition you can receive a bursary rebate/conversion of up to 40% on your loan, based on your academic performance.
To accept the NSFAS loan offer you must:
Be in receipt of a valid SA ID
Be of sound mind
Be in good academic standing
Further information is available on the NSFAS website
At UCT, financial aid students are provided with various types of allowances, such as a book allowance, local travel allowance for local students, food allowance for those in self catering residence, rental allowance for those that live outside of residence. A whole range of allowances are provided based on the student’s individual profile.
Full information and bursary applications here
The closing date for 2014 UCT & NSFAS Financial Assistance Applications – for students new to UCT is 31 October 2013.