Register for studies now to achieve your career goals

Many New Year resolutions focus on jobs, careers and money – and the education and training we need to get ahead. And for good reason: we spend a lot of our lives at work, so it is important to spend time thinking about the ways to improve our working life.

 

Time is fast running out for any chance of last-minute registrations. Students who register early have the best chance of getting the courses and classes they want.

Last year saw a drive by the Minister of Higher Education to encourage students to register early with the institutions of their choice to avoid repeats of the 2012 stampede and chaos caused by late registrations, so you may find that many universities have closed applications already and have put a halt to walk-in registrations altogether.

Here are some quick links for information on applications to the major universities in South Africa:

UNISA

University of Johannesburg

University of Pretoria

University of Cape Town

University of Kwa-Zulu Natal

Stellenbosch University

Rhodes University

University of the Witwatersrand

University of the Western Cape

University of the Free State

University of Venda

University of Limpopo

Tshwane University of Technology

Durban University of Technology

Cape Peninsula University of Technology

If you’ve missed the deadlines for your university of choice, you may have to either wait until the next registration cycle (some of which can start as early as April this year) or look at other options such as FET colleges, technikons or distance learning institutions.

If you’d like to speak to a customer service representative at Eduloan about study finance, give us a call on 0860 44 55 55 or visit www.eduloan.co.za for more information.

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Keeping South Africa’s students debt-free

Parents want their children to do well in school so that they can go out into the professional world and become successful, but finding the money to fund the ever-increasing school fees and then even more expensive tertiary education fees is sometimes completely out of some parents’ reach.

Cash-strapped parents are often forced to leave the financial responsibilities of paying for university or college education to their children. After all, they have to take responsibility for themselves at some point. But many South Africans do not realise the burden of the debt they are putting on themselves by taking a long-term, deferred student loan, whereby students pay interest on the loan while studying and start paying off the capital amount when they start working.

According to the most recent figures released by Higher Education South Africa (HESA) - students in the country are in arrears of more than R2,8 billion with universities alone. 

A legacy of debt

Student loans were initially perceived as a vehicle to drive access to higher education for poor or previously disadvantaged students. The intention was to give youth the opportunity to have higher lifetime incomes as a result of their education.

Instead this system has given birth to a generation of debt-ridden, unemployed young people, held captive by insurmountable debts before their careers have even begun.

One of the main contributing factors to the student dropout rate is the lack of understanding about additional costs associated with higher education. Even for those who are fortunate enough to receive a bursary, student financial aid is typically limited to covering tuition fees alone.

Students who had hoped to pursue their dreams are waking up to the shocking reality of extra expenses incurred from textbooks, transport, food, accommodation and other living costs. This lack of preparation for the associated costs is forcing many students to drop out. The situation is compounded further when unqualified students can’t find work, which means they become incapable of repaying their massive debts.

Short-term loans a better option

Most student loans can take between five to ten years to pay off, as the student pays only the monthly interest on the loan until they start working. This means that many students are stuck in a vicious cycle of paying off compound interest, which is interest accrued on top of interest that has been added to the principal loan amount.

Newly-employed graduates also have differing rates of income, and some find it increasingly difficult to pay off their student loans and make ends meet over the first few years.  A student loan can be almost as big a commitment as buying a car or house, and may hinder the ability of the graduate to get loans for either of those items.

This is the reason why Eduloan believes in providing short-term loans, which can be paid by an employed sponsor (who could be a parent, a relative or a friend). The interest rate is lower because the repayment period is shorter. That means that by the time the student has finished studying, their loan will either be paid off in full or nearly paid off, which gives them the freedom to start making the money they deserve to make, as soon as they graduate.

A key differentiator between Eduloan's study loans and those offered by other financial institutions is the interest rate. Eduloan offers loans at a very competitive interest rate, payable over shorter periods of time.

If you’d like to find out more about how our loan applications work, give us a call on 0860 44 55 55 or visit www.eduloan.co.za.

Getting over the Post-Holiday Blues: getting back into the swing of work and study

With the start of the first semester just around the corner, we’re sure that some of you are feeling the ‘post-holiday blues’. Whether you’ve spent the summer buried in part-time work or you’ve taken a well-deserved break surrounded by family, it can be difficult to get back into the swing of things after having some time off.

Early morning starts, dashing between classes and finding yourself buried under piles of research notes may not be at the top of your wish list.

So how exactly do you get into a good university or college routine after the excess of the silly season? Read on for our five survival tips.

Get organised and up-to-date

Before heading back to class, make an attempt to get organised. Whether this means reading through the semester’s course guides or the assigned reading list, filling in your diary with important events (such as the dates that assignments are due in or exam periods) or even just starting your stationery shopping a week early. Going back to varsity or college is a lot easier if you start the new year prepared for classes and up-to-date.

Work out your budget

If you’ve spent the summer working, it’s likely that you’ve had a bit more cash to splash around than during semester. Unfortunately, going back to studying means cutting back on paid work and tightening budgets. You may need to re-assess your weekly income against expenses such as living costs (accommodation, food and utilities), public transport, food and entertainment... and cut back on the not-so-necessary.

Another thing to remember is that most students are in the same boat, so living cheaply is not as difficult as it sounds. If you’re a new student, scope out the area around your campus for student deals, which usually include anything from lunch specials to discounted clothing.

Make a list of goals for the year

Although many students cringe at the idea of setting goals, this is a good way to get motivated before classes start. It might mean researching activities you’d like to try (writing for the student magazine or interning at your campus radio station, for example) or vowing to improve on results achieved last year.

No more late nights

It’s a good idea to rethink your sleeping patterns. Sleeping in until midday or staying up all night aren’t a problem over the summer holidays but can be a difficult habit to shake once the semester starts. If you can, attempt a trial run before your first class and that first early wake-up may be a little bit easier!

Create a healthy balance.

Finally — going back to varsity shouldn’t mean that you neglect your health. Putting together a simple exercise schedule or organising to catch up with friends can help you strike a good study/life balance.

Get enough sleep, eat a healthy, well balanced diet, drink in moderation and exercise - even a short walk around the block can change your mood, improve your health and quality of life.

Starting a new year is sometimes exciting at the start and becomes more stressful as the work piles up, so remind yourself of these five tips if it becomes a little too hard to manage later on. Remember — if you’re feeling under pressure or need help with your studies, you can arrange to have a chat with course coordinators or on-campus counsellors, who can address your questions or concerns.

Matric results – where to for the class of 2012?

South Africa’s 2012 matriculants must decide whether they can go on to tertiary education or try to enter the job market. 2012 saw an improvement in the national pass rate from 70.2 percent in 2011 to 73.9 percent, but despite the pass mark going up, the challenges faced by young South Africans do not end at passing their National Senior Certificate.

South Africa has a poor employment growth and economists estimate that matriculants have only a 25% chance of finding a job.

Even though more students qualified to get into university, the National Planning Commission Diagnostic report estimates that less than 4% of those who pass matric will actually be accepted into university.

“A university degree is not the be-all and end-all of further education. Too few of our matriculants consider a career as an artisan, i.e. as a plumber or boilermaker, in spite of there being a huge shortage of those skills in our economy. Further Education and Training is another option that should not be slighted,” says Totsie Memela-Khambula, CEO of Eduloan.

The department of higher education and training is hoping matriculants who either did not qualify for university entrance or applied to university too late will respond positively to its campaign meant to attract them to the public Further Education and Training (FETs) colleges to apply. FETs are open for late applications and registration this week.

There are 50 FET colleges with 264 campuses all over the country which offer a range of programmes that cater for most students' needs and interests ranging from engineering, business studies, art and music to food services.

FET colleges are ideally positioned for South Africa's economic growth, critical and scarce skills provision for the country, and the Department of Higher Education hopes that FETs will help to address the high levels of unemployment in the country.Memela-Khambula urges matriculants to take a practical view of their future. “If you have the means and the matric results to enable you to enter tertiary academic institutions, go for it and work hard. If not, there are other ways to qualify yourself. Most people can find a way to study further, even if this means part-time study via Technikons in South Africa, Unisa, or a FET college. Many places of work also offer training via the Seta system,” she says.

“Whatever their choice or opportunity, Eduloan wishes South Africa’s matriculants only the best for their future. These young achievers are, after all, also South Africa’s future and their welfare and success will impact on the country as a whole,” says Memela-Khambula.

To help prospective students on their way financially, Eduloan offers a variety of financing options. For more information, call Eduloan’s Client Services Department on 0860-55-55-44 or visit www.eduloan.co.za or follow us on www.twitter.com/EduloanSA and www.facebook.com/EduloanSA.