Will ISFAP Fund Me if I Have Another Bursary? – A Detailed Guide

The Income Share Fund (ISFAP) is a funding initiative aimed at supporting South African students from disadvantaged backgrounds in pursuing higher education. With education costs rising, many students rely on a combination of financial aid sources, such as bursaries, loans, and scholarships, to help cover tuition and other educational expenses.

However, when it comes to securing funding from ISFAP, you may wonder whether having another bursary will affect your eligibility for their support. This article will explore whether ISFAP can fund you if you already have a bursary and outline the rules and criteria for receiving funding from this organization. We’ll also provide tips on how to maximize your chances of securing ISFAP funding.

1. What is ISFAP?

The Income Share Fund (ISFAP) is a South African initiative designed to provide funding to academically deserving students who face financial barriers in accessing higher education. ISFAP funding is offered to students who are pursuing undergraduate degrees at accredited public higher education institutions in South Africa.

The fund is unique because it follows a pay-it-forward model, where students who benefit from the funding repay the amount they received after they have completed their studies and secured employment. This repayment structure helps sustain the fund and allows future students to benefit from the same financial support.

ISFAP covers tuition fees, accommodation, books, and other study-related expenses. It is primarily aimed at students from low-income and disadvantaged backgrounds who show academic potential.

2. Can I Receive ISFAP Funding If I Have Another Bursary?

One of the most common questions from students applying for ISFAP funding is whether they can receive financial support if they already have a bursary from another source. The short answer is: it depends on the specific terms and conditions of both the ISFAP funding and the bursary you currently have.

A. Understanding ISFAP’s Bursary Policy

ISFAP has specific rules regarding other financial assistance that students might have. Generally, ISFAP does not fund students who have already received full bursaries that cover their tuition and study expenses, as they believe that duplicating funding would be unnecessary. However, there are some important nuances:

• Partial Bursaries or Loans: If you already have a partial bursary or loan that covers part of your educational expenses, ISFAP may still provide funding to cover the remaining costs, such as accommodation, textbooks, and other essential study materials.
• Additional Funding: If your existing bursary does not cover all aspects of your study expenses (e.g., accommodation, transport, or other living expenses), you might still be eligible for ISFAP funding to cover these additional costs.
• No Overlapping Funding: If your existing bursary fully covers all your educational costs (including tuition, books, and living expenses), ISFAP may not provide funding. The idea is to avoid double funding from multiple sources.

B. Consideration of Financial Need

ISFAP’s primary aim is to support students who demonstrate financial need. If your current bursary does not fully meet your needs and you can prove that additional funding is required to cover the remaining costs of your education, ISFAP may still consider you for funding. However, your eligibility will be determined based on:

• The amount of financial support you are already receiving.
• The type of financial aid or bursary you have (i.e., is it a full or partial bursary?).
• Whether the funding provided by your current bursary covers all aspects of your education, including living costs, textbooks, and accommodation.

If your current bursary or funding falls short, you can apply for ISFAP to cover the remaining balance.

C. Policy on Dual Funding (Two Bursaries)

While ISFAP might allow students to combine their funding with a partial bursary, receiving two full bursaries is typically not permitted. Many bursaries (including those provided by government bodies or corporate entities) include clauses that prohibit dual funding for the same educational expenses. If ISFAP finds that you are receiving double funding for the same costs, they may revoke your funding or disqualify you from receiving support.

3. Steps to Apply for ISFAP Funding

If you meet the eligibility criteria and want to apply for ISFAP funding despite having another bursary, here’s what you need to do:

Step 1: Check Eligibility

Make sure you meet the basic criteria for ISFAP funding, which typically include:

• South African citizenship or permanent residency.
• Enrollment in an undergraduate degree at a South African public university.
• Demonstrated financial need (low-income background).
• A good academic record or potential to succeed in your chosen course.

Step 2: Gather Required Documentation

To apply for ISFAP funding, you will need to submit several documents, including:

• A valid ID (for proof of citizenship).
• Proof of enrollment at a South African higher education institution.
• A copy of your existing bursary agreement (if applicable).
• Your academic transcript or proof of your academic record.
• Proof of family income or financial status to demonstrate your financial need.

Step 3: Complete the Application Form

Visit the ISFAP official website or the myISFAP portal to access the application form. Complete all sections accurately, providing details about your financial situation and your educational needs.

Step 4: Submit Your Application

Once the application form is completed and all required documentation is attached, submit it through the online portal or by following the submission guidelines provided on the ISFAP website.

Step 5: Wait for Feedback

ISFAP will review your application and determine if you are eligible for funding. If approved, you will receive a notification detailing the funding you’ve been awarded, including what expenses it will cover.

4. What Happens If I’m Already Funded by Another Bursary?

If you have already been awarded a bursary that covers your educational expenses and you apply for ISFAP funding, the following outcomes are possible:

• Full Bursary Covers All Costs: If your bursary already covers all your study-related expenses (tuition, accommodation, and living costs), ISFAP will not fund you.
• Partial Bursary: If your bursary only covers part of your costs (e.g., tuition but not living expenses), you may be eligible for ISFAP funding for the remaining expenses.
• Documentation Review: You will likely be asked to submit your bursary agreement to ISFAP so they can assess whether or not they can supplement your current funding.

5. What Are the Key Takeaways?

• Full Bursary: If you have a full bursary that covers all costs (tuition, accommodation, textbooks, and living expenses), ISFAP funding is unlikely.
• Partial Bursary: If your bursary only partially funds your studies, ISFAP may provide additional funding for the remaining expenses.
• Financial Need: ISFAP’s primary goal is to support students who demonstrate significant financial need. If your current funding doesn’t meet all your needs, ISFAP might still help.

In conclusion, having another bursary does not automatically disqualify you from receiving ISFAP funding. The eligibility depends on the amount and type of the bursary you already have, and whether your existing bursary covers all aspects of your educational expenses. ISFAP is willing to assist students who still have financial gaps despite receiving partial bursary support. To find out more about your eligibility and apply for funding, visit the official ISFAP website or the myISFAP portal.

By carefully assessing your financial situation and following the application guidelines, you can maximize your chances of receiving ISFAP funding and achieving your academic goals without facing undue financial strain.