“It is very unfortunate that South Africans and South African Higher Education Institutions (HEIs) are fixated with tuition fees as a costing mechanism rather than the full cost of studies. If we look at the full cost of studies per year - which could be up to five times more - maybe, just maybe, South Africans earning relatively good salaries will realise that very few students can afford to further their studies without financial aid.”
So says Dr Garth van Gensen, Director of CPUT’s Advancement department. With around 40 % of South African university students dropping out of the higher education system due to financial constraints, new and creative ways of addressing the shockingly low throughput rates of our HEIs need to be found. And so, Advancement have recently launched a facility where staff members can pledge a portion of their salary towards a central fund for student bursaries.
Advancement’s Fundraising Liaison Officer Andile Blaai says however much CPUT wants financial aid for academically-deserving students to be provided, this can’t be fully realised in a world where government funding to higher education is constantly on the decline.“To try and overcome this, Advancement has proposed sustainable ways of supporting students. This also forms part of a mandate declared by the Kresge Foundation, who donated funds to CPUT to build capacity to increase third-stream income, particularly from individuals. We’ve established a bursary fund with the primary aim of serving as a means to appropriately invest bursary donations, in line with CPUT’s investment policies. The investments will be structured such that only the proceeds from the investment will be used for necessary student financial support.”
A rotating committee responsible for the disbursement of funds according to a strict set of criteria will be formed. Representatives from all spheres of the university will sit on this committee. All the applications will be fielded through Advancement’s office and funds will be awarded after a panel has scrutinised the student’s academic performance and financial need.
“We are rolling the project out in phases (currently in its first phase) and some staff may have received a personalised letter detailing this initiative. Staff can expect to hear more about this drive and will be invited to apply to sit on this rotating committee. The fund will also cater for once-off, annual and deferred contributions, and members of CPUT community, alumni and industry partners can contribute as little as R50 per month for a pre-determined fixed period. In return, CPUT will give donors a formal tax exemption certificate. There are various ways to donate, such as debit order, credit card and salary deduction facilities.”
Blaai says members of the Advancement department have already begun contributing to the fund, with donations ranging from R100 - R200 per month. He’s urging staff, alumni and industry partners to do the same. “This initiative offers you a great opportunity to contribute to a worthy cause that will support many generations of deserving students who come through our doors. Please join us in creating a reserve for student financial support. We thank you in advance for your valuable contribution and applaud those who have already pledged.”
By: Thando J. Moiloa
Written by CPUT News
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