Bank SETA gives students millions for their studies

Bank Seta bursaries beneficiaries, and Bank Seta and MUT staff. Second and third, seated, are Mpebe, and Nkosi

On 26 July 2023, the Bank Seta inducted 33 MUT students that the Banking Seta is funding to a tune of R3.6 million for the 2023 academic year. Senior Bursaries Officer: Financial Aid Office, at the University, Cynthia Nkosi, said the students are from the Faculty of Management Sciences and Faculty of Natural Sciences. “Most of these are Advanced Diploma students,” said Nkosi. Nkosi also added that the Office Management and Technology students will be added later to the students that are funded. The students are funded for the current year of study; the Financial Aid Office applies for funding every year, said Nkosi.

Ngwako Mpebe, Bank Seta’s Regional Specialist, Free State, Bank SETA told the students that applicants should be South African citizens, and must be between the ages of 18 and 35. The applicants should not be funded by another organisation for that year of study, Mpebe said. Mpebe added that applicants should preferably be from disadvantaged backgrounds. The Banking Seta officials also told the students about their rights and responsibilities as bursary holders, and how the money would be paid into the University account. The students must have the necessary documents, Mpebe said.

One of the beneficiaries, an Advanced Diploma in Accounting student, Nonkululeko Mlambo, said she was happy to have received financial help from the SETA. “I was going to struggle to pay my tuition fees for my present study, and not receive my certificate after graduation,” said Mlambo. The 22-year-old Mlambo has been supported by NSFAS from her first year. Mlambo is from Vryheid, in Midlands of KwaZulu-Natal.