Wits launches banking expo

Wits fees offices hosts banking expo to help students get financially savvy.

Yesterday marked the first day of the Wits banking expo hosted by the Wits fees office. Lead by the Financial Aid team the expo is intended to help students take charge of their finances and becoming savvier with their money.

Wits financial aid team celebrates a great start to student banking expo, with representatives from Edu loan, Absa, Nedbank, standard bank and FNB. Photo Sibonglie Machika

Wits financial aid team celebrates a great start to student banking expo, with representatives from Edu loan, Absa, Nedbank, standard bank and FNB. Photo Sibonglie Machika

Representatives from Absa, First National Bank, Standard Bank, Nedbank and Edu loan will be on main campus (library lawns) till the 17th of September to help student open accounts, apply for loans and answer question on investments.

Addressing students at the expo Deputy-Vice Chancellor Andrew Crouch said “Education is not free, someone must pay for it”. He stressed that it is important for student to get financial information so that they can learn to finance themselves.

“Not everybody can qualify for NSFAS.”

When WitsVuvuzela asked if the University was not simply shifting its responsibility to students he responded: “We often find that students are not aware of their options as they are unable or too intimidated to go to the banks. The fees office facilitates approximately 750 million in student bursaries and this is just another way we are trying to assist”.

BA student Nqobile Tshezi speaking to Standard Bank representatives about her options. Photo: Sibongile Machika

BA student Nqobile Tshezi speaking to Standard Bank representatives about her options. Photo: Sibongile Machika

The high cost of tertiary education has been a topical issue in the last few months. Many students are an able to access tertiary education because they cannot afford it.  Since the NSFAS crisis in the beginning of the year it has become evident that government can only assist some many students.

Lindani Ngwenya from the Financial Aid office said that the expo would have happened regardless of the NSFAS crises. “Not everybody can qualify for NSFAS”. This initiative is part of the financial aid office’s long term plan to help students gain financial freedom and independence.

First year B.A general student Lesiba Phahladina who opened a savings account yesterday, said he found the experience “quick and informative”.

Some of banks participating in the expo have offered to settle outstanding tuition fees and assist with future fees.

Students who are keen on finding out about some of the funding options available should visit the expo.

Related stories 

Wits Vuvuzela:  One Million, One Month falls short , August 13, 2015

Wits Vuvuzela: Witsies face uncertain future without NSFAS. February 22, 2015

 

First published by Wits Vuvuzela

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