The beginning of the year for university students comes with costs that are needed urgently, such as registration fees, textbooks, accommodation deposits, and daily living expenses.
Parents usually go all out for their children in matric, celebrating the last year of high school by taking them on vacations and buying expensive clothes for their matric dance.
She adds that it is usually parents whose firstborn will be attending university who are caught off-guard by the costs of starting this new journey.Petersen says many families focus on tuition fees but overlook the initial costs like registration fees, textbooks, accommodation deposit, and transport.
“Start exploring funding opportunities now. Many organisations have already opened applications, and some are opening them in December, so it’s crucial to stay ahead.”Petersen adds that it would come in handy if parents start to teach their children money management skills because starting university is often their first experience of managing money on their own.
There are other costs that parents and students need to remember aside from tuition. Costs for groceries, data, toiletries, and other day-to-day expenses.She adds that education is one of the most powerful tools for shaping the future, but financial stress often hinders even the most determined students.
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