You're not too poor for university, but not rich enough to pay. Here's every funding option for households earning R350,000 - R600,000 per year.
You're in the "missing middle" if your household earns R350,000 - R600,000 per year. This means:
Good news: From 2024, NSFAS extended funding to "missing middle" students! Plus, there are other options below.
NSFAS
Income Range
R350,000 - R600,000
Amount
Full tuition + allowances
Repayment
Repayable after graduation (income-based)
Department of Basic Education
Income Range
No strict income limit
Amount
Full tuition + R27,500 annual allowance
Repayment
Work as teacher for same years as funded (no cash repayment)
Eduloan
Income Range
R350,000+
Amount
Up to R550,000 total
Repayment
Start repaying after graduation (6-month grace period)
Feenix
Income Range
Any income level
Amount
Varies (crowd-funded)
Repayment
No repayment required
Fundi
Income Range
R350,000+
Amount
Up to R500,000 total
Repayment
Start repaying during study (interest-only) or after graduation
Various companies (Sasol, Anglo American, MTN, etc.)
Income Range
Varies by company
Amount
Full or partial tuition + allowances
Repayment
Work-back agreement (usually 1-2 years)
Don't put all eggs in one basket. Apply for NSFAS + 2-3 company bursaries + Feenix. More applications = higher chance of success.
Company bursaries open June-September. NSFAS opens September. Don't wait until November when everything is closing.
Funza Lushaka and company bursaries require you to work after graduation, but you avoid debt. It's a guaranteed job!
Loans mean debt (up to R500k). Interest rates are 10-15%. Only take loans if you exhaust all bursary options first.