Higher education is critical to unlocking South Africa’s economic growth and innovation. Yet, the exorbitant cost of tertiary education has been increasing steadily over the past few years, and there is no sign of this trend slowing down. The main causes are low economic growth, the high cost of student loans, and insufficient state funding of higher education coupled with billions in unpaid student debt. This has forced many learners to look for alternate ways to pay for their studies.
Luckily, South Africa has an entrepreneurial spirit, with great strides being made in the Fintech field. This means more funding options are becoming available, especially for those pursuing a career-focused education or needing to upskill in their area of expertise.
We take a look at why you should budget for ongoing education and an exciting new opportunity to fund your studies.
How upskilling protects your future
Investing in your education can have a significant impact on your career, earning potential, and personal growth. Research by the World Bank shows that each additional year of education boosts a person’s income by 10% and increases a country’s GDP by 18%. Interestingly, the highest returns are seen in Sub-Saharan Africa, namely in Ethiopia, South Africa and Tanzania.
Here are five reasons why you should invest in further education:
- Increases your earning potential: A higher level of education is typically associated with higher salaries, increased earning potential over time, and better job opportunities.
- Improves your employability: In today’s job market, employers are looking for candidates with specialised skills and advanced education.
- Enhances your knowledge and skills: Adult education provides you with the opportunity to learn new things and acquire new skills. This is personally fulfilling and can help you to become more competent in your current job or help you to transition into a new field.
- Increases your confidence: The more knowledge and skills you acquire, the more confident you become in your abilities. This can help you to take on new challenges and pursue your goals with greater conviction.
- Builds your network: Through your studies, you can meet and connect with like-minded individuals and industry professionals. These connections can be valuable throughout your career and help you access new opportunities.
Get an in-demand qualification with MasterStart
At MasterStart, we have our finger on the pulse of what’s going on in the world of work, and all our courses are backed by leading business schools and based on the latest industry needs, developments and trends.
If you’re interested in specialising in the field of communication, why not follow a course in Human Resource Skills for People Managers? Or, if management and leadership is where you want to go, you can follow our Business Management and Development or Leading with Impact courses.
For those who prefer to work in a more practical or tech field, Project Management or Data Analysis might be just right. Whatever you choose, if you need help with funding your studies, contact us today and let MasterStart get you on the path to success.
