[imagesource: University of Cape Town]
Parents who intend to send their child(ren) to university, look away now.
At some stage, you will have to face up to these costs but maybe a Monday is not the right time.
There will potentially be some respite with regards to tuition costs in the years to come if you take the words of higher education, science, and innovation minister Blade Nzimande at face value.
He said earlier this year that our government has been hard at work on a student funding model for universities and colleges.
For those who will be in for the full shebang tuition-wise each year and want an idea of what you’re looking at, BusinessTech has laid out the cost of studying the most popular degrees at some of South Africa’s premier universities.
LLB references a Bachelor of Law undergraduate degree and BEng is a Bachelor of Engineering.
We’ll focus on the University of Cape Town, the University of Witswatersrand (Wits), and Stellenbosch University. The University of KwaZulu-Natal is sandwiched in the mix, too.
Before you read the below, make sure your financial affairs are in order and that you have experts working to protect and build your wealth.
Okay, ready? Consider that “the fees represented below give a broader idea of the cost of a single year of study rather than a comprehensive overview”:
BusinessTech said the fees were gathered from the latest yearbooks available to the public. You can see the full table here.
Also, the above figures deal only with the cost of the degree itself. It does not include the cost of staying in a residence or off-campus accommodation.
For res fees, you’re looking at roughly R60 000 to R80 000 per year at UCT, between R35 000 and R65 000 at Stellies, and between R50 0000 and R100 000 at Wits.
The huge range in price is because there are many factors to take into consideration, such as whether the room is single or shared.
Even if you play it safe and go for the bottom range of those figures, a three-year degree along with accommodation starts adding up.
Best-case scenario, your kid gets a full scholarship because they’re a prodigy. For the rest, it’s wise to take action now and make your money work for you.
The team at Consequence Private Wealth believes that the consequences of decisions made today will bear fruit over the years based on the sound principles applied at their inception.
Best get a move-on.
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