Current funding structures
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