Is HR a stressful job?

Human resource managers are responsible for ensuring that the overall administration, coordination, and evaluation of human resources plans and programs are realized. Therefore, their essential job responsibilities include:

  • Developing and administering human resources plans and procedures that relate to company personnel
  • Planning, organizing, and controlling the activities and actions of the HR department
  • Contributing to the development of HR department goals, objectives, and systems

These responsibilities involve achieving the following tasks:

  • Implementing and revising a company’s compensation program
  • Creating and revising job descriptions
  • Conducting annual salary surveys
  • Developing, analyzing, and updating the company’s salary budget
  • Developing, analyzing and updating the company’s evaluation program
  • Developing, revising, and recommending personnel policies and procedures
  • Maintaining and revising the company’s handbook on policies and procedures
  • Performing benefits administration
  • Maintaining affirmative action programs
  • Overseeing recruitment efforts for all personnel, including writing and placing job ads
  • Conducting new employee orientations and employee relations counseling
  • Overseeing exit interviews
  • Maintaining department records and reports
  • Participating in administrative staff meetings
  • Maintaining company directory and other organizational charts
  • Recommending new policies, approaches, and procedures

Although in smaller organizations human resource managers may be responsible for all of the above named duties, these HR professionals in larger organizations may have more specialized duties. In these settings, these specialized managers may be referred to as compensation and benefits managers, training and development managers, and the like.

As supervisors, human resource managers are responsible for the oversight of all employees in the HR department, which includes performance management of HR employees. For example, they would be in a position to make recommendations to an organization’s leadership based on analyses of worker productivity. Their value is often realized as they identify ways to maximize the value of the organization’s employees and ensure all human resources are being utilized as efficiently as possible.

Need Information or Confused about Something ?

Ask a Question

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:

  1. Identify your loan provider: Choose between NSFAS, a bank, or a private lender.
  2. Gather necessary documents: ID copies, academic transcripts, acceptance letters, and income statements.
  3. Complete the application form online or at a branch.
  4. Await approval: Some banks offer instant decisions, while NSFAS can take a few weeks.
  5. 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.