Application for Financial Assistance

There are several categories of funds available that are mainly awarded on the basis of need and merit.

What is a loan?

Money lent to the student to meet study-related costs, which must be REPAID. Interest is charged on loan funds.

Central University of Technology administered loans (including NSFAS loans)

Loans vary from R 2 000 to R 43 000 per annum. The granting of these loans is subject to the availability of funds and approved criteria. Depending on the individual circumstances the student can qualify for the following maximum amounts.

• Total tuition fees for the year
• Books
• CUT Residence accommodation
• Transport Allowance
• Private Accommodation
• Living Allowance

The reservation for accommodation and meals is subject to the availability of funds. Students will be informed during the first semester in 2010 of the amount of these allocations.

Who can apply?

Application for funding, are accepted only from students who:

• Are registering for a first undergraduate degree or diploma / certificates.
• Have paid the minimum own contribution required.
• Are South African citizens.
• Are financially needy as determined by the means test* formula, as prescribed by NSFAS.
• Are academically deserving.

*a Means Test is a Test which enables the Financial Aid Office to ascertain who amongst applicants is most financial needy, this is determined using documents submitted by the applicant.

What do you need to apply?

The following certified documentation should be submitted with the application form:

• A copy of the student’s South African ID document.
• The latest pay slip / pension slip or affidavit on income of the parents or guardian.
• Copy of grade 12 examination results in the case of first year students.
• If parents are divorced, a copy of divorce agreement.
• If one or both parents are deceased, a copy of the death certificate(s).

 How do you apply?

Application forms will be sent to each approved prospective first year student by the middle of November each year. Application forms for senior students are available as from the first week in August each year for the following year. To be considered for a loan, a student must complete an application form and return it on or before the closing date.

How is the Bursary Component of your Loan Calculated?

 Up to 40% of the award may be converted into a bursary dependant on your end of year results

• If you pass al the courses for which you have registered, you qualify for a 40 % bursary
• If you pass three quarters of the courses you qualify for a 30% bursary.
• If you pass half of the courses you qualify for 20% bursary.
• If you pass one quarter of the courses, you qualify for a 10% bursary.
• If you pass none of the courses, you qualify for no bursary.

What happens if you have money left over in your Account?

• You can’t receive more money from NSFAS than you require
• If there is money left over in your account at the end of the year (for example if you receive a bursary or a merit award after the NSFAS award was granted), the Financial Aid Bureau has to return the money to NSFAS. This will count as your first loan repayment.
• Money left over in your account is never paid out to you. Furthermore, it is in your interest to ensure that the money is returned to NSFAS to avoid paying interest on it.

When and how do I start repaying the loan?

The Loan becomes repayable as soon as the student secures employment, whether they have completed their studies or not.

Repayment rates start at 3% of the salary if the student is earning R30000 per annum, this percentage rises as the income increases e.g. 8% if you earn R63000 per annum.

Closing date

Senior students: 16 October 2009
First-year students: 12 February 2010

• Download Financial Aid Application form
• Download Financial Aid Application form guide

For more information,

Visit the NSFAS website at: http:// www.nsfas.org.za. Or contact them on 021 763 3200.

• For more information on EDULOAN

You can visit their website at: http://www.eduloan.co.za or contact them on 0860 55 55 44.

   Contact personnel at CUT, FS:

 

Name	Contact	E-mail
Mrs K Wilbraham	051-507 3356
Mr G Sekwena	051-507 3374	gsekwena@cut.ac.za
Ms K Taka	051-507 3332	ktaka@cut.ac.za
Ms M Oosthuizen	051-507 3387	moosthuizen@cut.ac.za
Ms S Jonkers	051-507 3375	vjonkers@cut.ac.za
Ms A Mohala	051-507 3334	amohala@cut.ac.za
Mr SB Kambule	051-507 3356	skambule@cut.ac.za
Mrs ESD Taka (Welkom Campus)	057-910 3663	etaka@cut.ac.za
Mrs F Morley (Kimberly Branch)	053-861 3786	kimberl@cut.ac.za
Fax Number	051-507 3320