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How to finance your own studies

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What do you do if you don't come from a wealthy family and the idea of a study loan makes you break out in a cold sweat?

What do you do if you don't come from a wealthy family and the idea of a study loan makes you break out in a cold sweat?

There are other ways to fund your studies that don't require you to trade your future or go into debt.

In fact there are countless success stories of people who came from challenging circumstances and yet were able to reach their career goals. This could be you!

Here are 5 tried and tested ways of financing your academic programme:

Get a Part-Time Job

The money earned through entry level jobs or shift work could help you to make ends meet while you are studying.

There are many employment opportunities that cater specifically to the student timetable. For example call centre or retail jobs can be scheduled according to your class and study times.

Apply for Financial Support

Get financial assistance from private companies or government institutions. There are many entities that offer funding to underprivileged students. In some instances this could also open doors for employment after graduation.

Start Tutoring

Tutoring is another great way to earn money while you study. The flexibility and convenience of tutoring is part of the appeal as it can be done on campus in between classes or after hours. In addition this job can position you for future academic roles.

Join a Crowdfunding Site

More people are turning to crowdfunding as a way to source money for their private projects and personal goals. In South Africa Feenix and Backabuddy are well known platforms used to raise money through generous sponsors.

Save Up

Take the pressure off while you study by choosing to save up first. This requires time and discipline but for those who succeed it can be an extremely rewarding alternative. If you choose to save your own money it can remove the stress of sourcing beneficiaries, navigating complex application processes and anxiously waiting for payouts.

Perhaps a combination of these funding methods is the best option. Due to the cost of a higher education it might be necessary to save, work and seek financial assistance to ensure that your study costs are fully covered. Whatever if you do, don't allow money to stop you from studying further and achieving your dreams

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