Cur­rent fund­ing struc­tures

Finweek English Edition - - INSIGHT -

Most South African uni­ver­sit i es cur­rently rely on t hree sources of f und­ing: gover nment s ub­sid i e s , stu­dent fees and donor con­tri­bu­tions. Most in­ter­nal uni­ver­sity schol­ar­ships and fund­ing schemes are taken from the donor fund­ing pool, which is not sub­stan­tial enough to meet de­mand. Uni­ver­sity ed­u­ca­tion in SA does not come cheap and un­til gov­ern­ment is able to de­liver on its prom­ise of free ed­u­ca­tion for all, this will not change any­time soon.

Estelle Scholtz-Mare, head of fi­nan­cial well­ness mar­ket­ing at Mo­men­tum, says that one of the fun­da­men­tal rules when sav­ing is to re­mem­ber that “time is your friend but it can also be your en­emy”, i.e. the longer you have to save, the lighter t he bur­den to your pocket.

Scholtz-Mare used this ex­am­ple: a s s u mi n g that f our years of ed­u­ca­tion will cost you R400 000. If you save over five years with

Estelle ScholtzMare

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