Question

Read the extract below and answer the questions that follow.

FINANCING FURTHER STUDIES AFTER GRADE

12 Financing studies after Grade 12 is the biggest challenge facing most learners in South Africa. Knowing that you might not have the money to study can not only be overwhelming but can also affect the learner's academic performance. It is crucial that learners and their parents explore all available options suitable for their needs. [Adapted from www.businesstech.co.za. Accessed on 22 February 2021]

2.1 State and discuss FOUR available ways to fund your studies next year for the course of your choice. (4x2) (8)

2.2 List FIVE essentials that will be covered by NSFAS. (5x1) (5) (3x2) (6)

2.3 Discuss THREE purposes of the National Benchmark Tests (NBT's).

2.4 Evaluate the consequences of NOT applying for funding for your studies. (3x2) (6) [25]​

Answer 1

Scholarships and bursaries: Many companies, universities, and organizations offer scholarships and bursaries to deserving students. These may be based on academic merit, financial need, or other criteria.

Student loans: Banks and other financial institutions offer student loans to cover tuition fees, accommodation costs, and other expenses. These loans have to be paid back with interest after graduation.

Government funding: The National Student Financial Aid Scheme (NSFAS) provides financial assistance to eligible students from poor and working-class families. The funding covers tuition fees, accommodation, and other expenses.

Part-time work: Students can work part-time to earn money to fund their studies. This can be done during weekends, holidays, or after class.

2.2 Five essentials that will be covered by NSFAS are:

Tuition fees: The funding covers the full cost of tuition fees.

Accommodation: Students who live on campus or in private accommodation can receive funding for accommodation.

Food and living expenses: NSFAS provides a stipend to cover food and living expenses.

Books and study materials: Students can receive funding for textbooks and other study materials.

Transport: Students can receive funding for transport costs to and from campus.

2.3 Three purposes of the National Benchmark Tests (NBT's) are:

Assessment of academic readiness: The NBT's are used to assess a student's academic readiness for tertiary education. This helps universities to determine which students are best suited for their programs.

Identification of learning gaps: The tests identify areas of weakness in a student's academic knowledge and skills. This information can be used to provide targeted support and remedial programs.

Standardization of assessment: The NBT's provide a standardized assessment of academic readiness, which ensures that all students are evaluated using the same criteria.

2.4 The consequences of not applying for funding for studies are:

Financial strain: Without funding, students and their families may struggle to pay for tuition fees, accommodation, and other expenses. This can lead to financial strain and debt.

Dropout rates: Students who cannot afford to pay for their studies may drop out of school, leading to high dropout rates.

Limited career opportunities: Without a tertiary education, students may have limited career opportunities and earning potential.

Step-by-step explanation: