SAICA is the only professional accountancy body that is a registered Education and Training Quality Authority (ETQA) and as such plays an important role in promoting quality in respect of programmes leading to the qualification as a CA(SA). It therefore only recognises programmes offered at certain universities as meeting the necessary criteria to qualify prospective CAs(SA) .
The following are universities that offer the SAICA-accredited programmes:
- North-West University;
- Nelson Mandela Metropolitan University;
- University of Cape Town;
- Rhodes University;
- University of Fort Hare;
- University of Free State;
- University of Johannesburg;
- University of KwaZulu-Natal;
- University of South Africa (UNISA);
- University of Stellenbosch;
- University of Pretoria;
- University of the Witwatersrand; and
- University of the Western Cape.
“Although SAICA accredits the programme and not the institution, students enrolling at a university with a view to becoming a CA(SA) must make certain that the institution offers a programme that SAICA has accredited and that the programme they enroll for is SAICA-accredited,” says Mandi Olivier, SAICA’s Project Director of Education. “An institution may offer a BCom Accounting degree, but if the relevant programme is not SAICA-accredited, a graduate from that university will be denied entry into the Part I qualifying examination.”
By means of the accreditation process, SAICA certifies that:
- The academic unit has put in place the appropriate resources that, if utilised effectively, should enable it to deliver the programme at the required standards and levels of quality; and
- The programme meets SAICA’s standards of learning and teaching.
Olivier points out that accreditation is not an automatic assurance that the academic unit in question is achieving the required standard of the delivery of that programme. Rather, accreditation confirms that a programme contains the requirements necessary to meet SAICA’s accreditation standards.
“The quality of the programme offered by the academic unit – the extent to which it meets SAICA’s educational standards – is, however, the sole responsibility of the academic unit.”
Olivier offers a host of reasons why school leavers with high grades in mathematics should seriously consider pursuing the CA(SA), among them:
- A CA(SA), as an individual responsible for analysing and reporting on financial information, frequently ends up as the head and heart of a business;
- As a career, chartered accountancy is challenging and exciting, which serves as a base for establishing a highly promising and varied career post qualification;
- A CA(SA) plays many roles and is not solely focused on working with numbers;
- A career in accountancy enables the CA(SA) to work internationally;
- Those studying toward a CA(SA) are encouraged to pursue a balanced lifestyle that promotes work flexibility and the ability to earn a good living;
- Because finance is the fuel that powers the economy and because CAs(SA) are financial pivots, multiple career opportunities present themselves to the CA(SA);
- The CA(SA) designation creates the mobility to work in any industry of choice – in all fields of business and finance and, more specifically, in auditing/assurance, tax, financial management, information technology, management accounting, forensic accounting and insolvency;
- Holding the CA(SA) provides many opportunities for furthering one’s ability to continue to learn new skills and knowledge; and
- CAs(SA) hold prestigious positions in the private and public sector and in academia.
Students who wish to study toward a CA(SA) qualification are urged to ensure that their application forms reach a university which offers the SAICA-accredited programme before the end of October, which is the closing date for most universities.
The requirements, which do vary from university to university, are a matric exemption certificate, no less than a C symbol in Mathematics and good English. Accounting is desirable, but not compulsory.
MEDIA CONTACTS:
| Thando Pato Communication Coordinator: Corporate The SA Institute of Chartered Accountants (SAICA) Tel: 011 621 6898 Email: thandop@saica.co.za | Anusha Mudhai Consultant Meropa Communications Tel: 011 506 7314 Email: anusham@saica.co.za |
CLICK HERE FOR UPDATED LIST OF ACCREDITED PROGRAMMES AND INSTITUTIONS
Student Loans in South Africa: How to Apply and What to Expect
For many young South Africans, accessing higher education is a dream that often comes with a financial challenge. Fortunately, several student loan optionsstrong> are available in South Africa to help fund university, college, or TVET studies. Whether you’re looking for a government loan like NSFAS or a private student loan from a bank, understanding the process is essential for success.
What Are Student Loans?
Student loans are a form of financial aid provided to eligible students to help cover tuition fees, books, accommodation, and other study-related expenses. In South Africa, these loans can come from government institutions like NSFAS or private banks such as Nedbank, Standard Bank, FNB, and Absa. Most loans offer repayment flexibility and low-interest options until you graduate.
Types of Student Loans in South Africa
- NSFAS (National Student Financial Aid Scheme): A government-funded loan/grant program for students from low-income households. Covers tuition, housing, transport, and meals.
- Bank Student Loans: Offered by most major banks. These are credit-based and require a guardian or parent as a co-signer.
- Private Loan Providers: Companies like Fundi offer educational loans covering various costs such as school fees, gadgets, and textbooks.
Requirements to Qualify for a Student Loan
Each provider has its own criteria, but most South African student loans require the following:
- Proof of South African citizenship or permanent residency
- Proof of registration or acceptance at a recognised tertiary institution
- Parent or guardian with a stable income to co-sign (for private loans)
- Completed application form with supporting documents (ID, proof of income, academic records)
How to Apply for a Student Loan
To apply for a student loan in South Africa, follow these steps:
- Identify your loan provider: Choose between NSFAS, a bank, or a private lender.
- Gather necessary documents: ID copies, academic transcripts, acceptance letters, and income statements.
- Complete the application form online or at a branch.
- Await approval: Some banks offer instant decisions, while NSFAS can take a few weeks.
- Receive disbursement: Funds are typically paid directly to the institution or your account, depending on the lender.
Loan Amounts and Repayment
The loan amount you can receive depends on your chosen lender and financial need:
- NSFAS: Covers full tuition, residence, books, and a personal allowance. The loan becomes a bursary if you pass all your courses.
- Banks: Can provide up to R120,000 or more annually, depending on tuition costs and credit history.
Repayment usually starts after graduation or once you start earning an income. Bank loans may require interest-only payments during your studies. NSFAS repayment only begins when you earn above a specific income threshold.
FAQs on Student Loans in South Africa
1. Can I apply for a student loan without a parent or guardian?
For government loans like NSFAS, yes. But most banks require a financially responsible co-signer, especially for students without an income.
2. Is NSFAS a loan or a bursary?
NSFAS starts as a loan, but it converts to a bursary if you meet academic performance requirements. This means you may not have to pay it back.
3. What is the interest rate on student loans?
Private banks offer competitive rates between 5% and 12%, depending on the applicant's credit profile. NSFAS charges a much lower interest rate, usually linked to inflation.
4. What happens if I fail my courses?
If you’re funded by NSFAS and fail, your loan won’t convert into a bursary, and you’ll need to repay the full amount. Banks may continue charging interest, and your co-signer may be held liable.
5. Can I use a student loan to pay for accommodation and laptops?
Yes. Both NSFAS and many bank student loans cover costs beyond tuition, including housing, meals, textbooks, and electronic devices like laptops or tablets.
Final Thoughts
Student loans in South Africa offer a much-needed financial lifeline to thousands of students every year. Whether you're applying through **NSFAS** or a private bank, ensure you understand the **terms, interest rates, and repayment conditions** before signing any agreement. Make informed decisions today to secure your academic and financial future tomorrow.