Scholarships are one of the options for student funding that you may be considering and one thing you might be asking yourself is what are the disadvantages and advantages.
Scholarships are offered by colleges, universities, corporations, foundations, and other organisations. The amount awarded varies widely depending on the organisation offering it.
A pro of a scholarship is that they are usually given to students who achieve high marks or do well in the topic they are covering.
Another advantage of a scholarship is that there is no need to pay back the funding. Usually, scholarships will cover more than just your fees.
Scholarships also give you an opportunity to network and will boost your CV as it showcases your academic merit.
However, scholarships do come with their disadvantages.
Since for some scholarships you don't apply, they might be based on merit, you won't always know if you'll get the scholarship in advance.
Normally since they're given based on high achieving merits, they're in demand and are given to fewer people.
With it being based on merit, you will then also need to keep up a specific academic performance or your scholarship might be cancelled. This puts a lot of pressure on the student, especially if they have no other means to pay for their studies.
The internet is a great resource for information on scholarships, and you should also check with your high school counsellors and university admissions departments if they are aware of any scholarship opportunities available.
Careers Portal gives you access to information about scholarships in South Africa and to get some tips on writing a scholarship motivational letter and how to apply for scholarships, both to study in South Africa and study abroad.