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Mangosuthu University of Technology Annual Report

39

Year

No. of Sponsors

No. of Sponsored Students

Total Sponsorship

2013

61

359

R 10, 409, 320.00

2014

89

542

R 17, 322, 863.00

2015

135

743

R 23, 631, 758.00

Postgraduate Bursaries and Scholarships

A prestigious scholarship to the value of

R4 890 000.00

was

offered by the National Research Foundation (NRF). One

hundred and six (106) BTech students from the Departments

of Chemical Engineering, Accounting, Chemistry, Human

Resources Management and Nature Conservation were the

beneficiaries of the NRF bursary in 2015. The NRF bursary

fund increased by 45% when compared to 2014 where an

amount of

R 2 680 000.00

was provided for full bursaries

to seventy (70) BTech students.

SETAS and other Business Organizations

A few Sector Education and Training Authorities (Setas)

and business organisations are working in partnership with

Mangosuthu University of Technology to promote access

and success for students in higher education. The Financial

Aid Office has been instrumental in sourcing more funds

from the Setas and other business organizations. In 2015

alone the office facilitated the signing of five Memoranda

of Understanding agreements (MoU). The following are

the MoUs signed and the value thereof:

ORGANISATION

AMOUNT

NUMBER OF STUDENTS

Culture, Arts, Tourism, Hospitality and Sport SETA

R 963,340.00

18

Insurance SETA

R 978, 990.00

66

Wholesale & Retail SETA

R 2, 892, 295.00

53

Umpheme (Pty) Ltd

R 101, 470.00

4

TOTAL

R 4,936, 095.00

141

The National Student Financial Scheme (NSFAS)

The National Student Financial Scheme (NSFAS) is the major source of student funding at Mangosuthu University of

Technology. In 2015 the NSFAS grant was

R 175, 888, 119.00

and specifically earmarked to assist financially needy

but academically deserving students. The University was able to assist

5965

students who were in need of financial

assistance. In 2014 the grant was

R 167, 512, 494.58

and

6172

students were assisted. The comparison between 2014

and 2015 shows a slight decrease in the number of recipients caused by the increase in the cost of study. The following

are statistics of students who received funding over a period of ten years.

Year

Students Applied

Bursaries Allocated

Percentage Allocation

2006

5451

4059

74.46

2007

5065

4047

79.9

2008

5105

4013

78.61

2009

6011

4281

71.22

2010

6818

4731

69.39

2011

6822

5453

79.93

2012

7383

6154

83.35

2013

7889

6111

77.46

2014

8134

6172

75.88

2015

7989

5965

74.67

Table 5.2: Statistics of NSFAS funding allocated to students for the past ten years (2006 – 2015).