14
Reporting
Q:Can one extract a report that shows suppliers which the department used for that month? No. The CSD is a supplier database. It does not track if suppliers extracted from it are given contracts. That information resides in the procurement system.
Q:How will the CSD assist with reporting requirements from Parliament – mainly regarding empowerment requirements?
The CSD does not record any transactions. The CSD will allow organs of state to identify suppliers based on various empowerment requirements. B-BBEE will only be verified from 1 October 2016.
Rotation
Q: Will you incorporate rotation into the CSD?
The CSD is a supplier database, not a full procurement solution. It therefore does not cater for rotation. In other words, the CSD is a repository of supplier records to be used in existing procurement systems. Departments must put policies in place to ensure rotation as a mechanism for fairness.
Q: Are we still going to use our own database of suppliers for rotation?
Yes, as long as your supplier database integrates with the CSD. The CSD does not replace the existing procurement systems.
Q: Must we still invite quotations on our existing systems?
Yes, the CSD does not replace the existing procurement systems, rather it allows integration.
Q:Previously, our policies/prescripts stated that we had to advertise for suppliers to register on our supplier databases. Do we still do that?
No. Suppliers may only register on the CSD. Advertisements and outreach programmes should aim to inform suppliers to register on the CSD.
Q: What are the chances of the public service overusing suppliers?
The CSD is not a procurement system. Supplier usage is recorded in procurement systems and should be monitored by the system owners.
Q: How do I choose from the 20 local suppliers on the Central Supplier Database?
The CSD allows you to search for the 20 locally based suppliers and will verify their compliance status for you. You can then use the search result to procure as normal.
Q: What process must we follow to source quotations after the introduction of CSD?
Use the existing RFQ processes. The CSD allows the practitioner to search for suppliers. You can then use the search results to take the procurement process forward like you normally do it.
Q:Can we use the same suppliers that other departments are using? Yes, there is no restriction.
Q:How can a department deal with a scenario where the order was placed and services rendered before CSD and now payment is due after CSD implementation and the supplier is refusing to register on CSD?
Pay for those services. CSD verification is only required on date of award.
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.