Funza Lushaka Bursary Program is a relaxed teacher student loan programme that is provided by the Department of Education in a bid to improve the number of qualified teachers in South Africa.
About – Funza Lushaka
The program provides student loans to prospective and current student teachers, covering their full tuition fees, books, meals, accommodation and other institutional requirements for the course that the applicants would have enrolled for.
The programme is one of its nature in the area of teacher education in South Africa, and it makes sure that the future of the nation gets improved through the provision of quality education by qualified educationists.
WHY FUNZA LUSHAKA STUDENT LOANS?
The Funza Lushaka student loans are issued through a government branch, that makes them very cheap with very much relaxed terms. Also, to the extent that interest rates are amongst the lowest in the area of educational funding.
The Funza Lushaka student loans also give students a longer term to make repayments for the loans. The applicants can make repayments over a time that is equivalent to the length of the course that they undertook.
In addition to that, the Funza Lushaka student loans will provide students with employment before they can start to make payments. The program has helped a large number of prospective South African students to achieve their dreams of being educators.
HOW DOES FUNZA LUSHAKA STUDENT FINANCE WORKS?
Every year, the Department of Education opens up its portal for applications from student teachers and prospective student teachers countrywide. The applicants will make applications and wait for their calls. When the applicant becomes successful, their fees and other educational requirements will be fully covered by the student loan.
The students will then be required to work for a term that is equivalent to the term of the course they were financed with during their studies. It is through that term where the applicants will be making their repayments.
For example, when you study for four years, you will be offered employment on public institutions for four years until your loan contributions are over, from there you can get employed where you want.
HOW LONG DOES IT TAKE TO ACQUIRE THE FUNZA LUSHAKA STUDENT LOAN?
The organisation facilitates educational finance for students in batches.
The applicants are required to submit their application forms on a certain period of time and thereafter, assessment is done when the applications are closed.
Normally, the Funza Lushaka student loans applications are normally opened in October, running up to December every year.
The successful applicants will receive their offers after two months from the application deadline.
WHAT HAPPENS WHEN I DON’T GET EMPLOYMENT?
The Department of Education does not require the students to repay the loan when they do not get employment.
The department works with the relevant Provincial Education Department (PEDs) so that all the graduates who were financed by the Funza Lushaka student loans get employed for a term that is at-least the same length with their term of study at a public institution.
DOES THE FUNZA LUSHAKA STUDENT LOANS COVER ALL TEACHING AREAS?
Unfortunately, there are some areas which are not covered by the Funza Lushaka student loans.
The government usually finance the areas of its interest; these are the areas which will be shaving a shortage of teachers or spaces that are critical for the development of the nation. Usually, students who are taking teaching courses in areas of English, Mathematics and Sciences are given priorities on the Funza Lushaka student loans programs.
However, the Funza Lushaka student loans also cover other areas like arts, but the courses are continuously updated in line with the shortages and national requirements.
At all times, the Funza Lushaka program seeks to emancipate the ability of South African teachers to bring out the best in our children.
The Funza Lushaka student loans come with similar requirements to those of personal loans and banking services in South Africa, with the only exception that the department will not require your guarantor to make payments for you.
The applicants should be South African citizens who are students or have obtained places to study for a teaching course with one of the registered college or university.
The applicants should submit the following documents during the application process
- A barcoded South African national identity document
- Proof of residential address that is not older than three months
- Three months’ stamped bank statement
- A statement of educational results
- A registration slip or identity document for the institution where the applicant studies
HOW TO APPLY FOR THE FUNZA LUSHAKA STUDENT LOANS?
The applications are accepted once every year in the period between October to January, prior to the beginning of the academic year.
The applicants will be required to file and complete the full applications online. The applications are done through the Department of Education’s website.
Only successful applicants will be notified and their funds will be made available as soon as they make relevant contractual agreements with the department.