Student Contract

2. INTERPRETATION AND DEFINITIONS

2.1

In this Agreement, unless inconsistent with the context, words referring to:

2.1.1

a gender include a reference to the other genders;

2.1.2

the singular include the plural and vice versa; and

2.1.3

natural persons include artificial persons and vice versa.

2.2

Whenever a number of days is prescribed in this Agreement, such number shall be calculated excluding the first and including the last day, unless the last day falls on a Saturday, Sunday or official public holiday applicable in the Republic of South Africa, in which case the last day shall be the next day which is not a Saturday, Sunday or official public holiday.

2.3

Clause headings are inserted for convenience only and shall not be used to interpret this Agreement. Phrases and words defined in a clause shall bear the meaning assigned to them in such clause only and the following terms bear the meaning assigned to them:

2.3.1

“Agreement” means the agreement as set out in this document together with any Supplemental Letter of Agreement or attachments, annexures and schedules hereto;

2.3.2

“Application Form” means the ISFAP application form containing the Student’s parent/guardian signed consent and certified copy of the Student’s parent/guardian identification;

2.3.3

“Business Day” means Monday to Friday between the hours of 08:00 to 16:00, excluding Saturdays, Sundays or a day which from time to time is proclaimed a public holiday in South Africa;

2.3.4

“Calendar Day” means a 24 (twenty four) hour day from midnight to midnight denoted on a calendar. Same shall be reckoned exclusively of the first and inclusively of the last day;

2.3.5

“Calendar Month” means a period from the first to the last day of a month;

2.3.6

"Co-Ordinator" means an institutional representative designated as administrator and liaison for the Agreement;

2.3.7

“Delegated Authority” means an official appointed to act at an operational level on behalf of the parties with regard to this Agreement;

2.3.8

“Designated Firm” means various companies or institutions including those in the public and private sectors that provide funding to The Fund and are willing to employ the Students;

2.3.9

“Designated Qualification” means the professional courses offered by the Designated Universities and one artisan course offered at the Designated Universities;

2.3.10

“Donor” means the various firms and companies or institutions that provide funding to The Fund;

2.3.11

“Effective date” means 1 January 2019;

2.3.12

“First year of study” means the Student’s first year of study at an Institution for the first time;

2.3.13

“Full cost of funding” means the bursary that has been granted to a student based on qualification of funding from The Fund that includes all costs agreed upon for funding.

2.3.14

“Full cost of study” means the tuition, accommodation, books, cash allowance and meals;

2.3.15

“Bursary” means funding for designated qualification not payable back by the Student;

2.3.16

“Means test” means the process in which the students supplied information regarding household income, school qualifications and possible grant receipts are used to assess if the student qualifies for the bursary based on household income bracket. The test, taking into account only the income of the parent or guardian, to calculate whether the student is eligible for financial support

2.3.17

“Institutions” means all South African Universities that are in affiliation with the programme.

2.3.18

“Integrated IT platform” means the platform that will enable to maintain and track the Student data across multiple fields which reflect the areas of Wrap-around support;

2.3.19

“ISFAP” means the Ikusasa Student Financial Aid Programme;

2.3.20

“Merit” means a Student obtaining an average of 70% (seventy percent) for the Grade 12 final examination;

2.3.21

“Poor and Missing Middle Students” means the poor and middle-income households with an income from R0.00per annum and less than R600 000.00 per annum (Gross);

2.3.22

“Parties / Party” refers to The Fund and the Student, severally or individually, as the case may be;

2.3.23

“Personal Information” - shall bear the meaning ascribed thereto in the Protection of Personal Information Act 4 of 2013;

2.3.24

“the Programme” - means the programme designed by The Fund in terms of which The Fund will provide funding and support to the Students;

2.3.25

“Sponsor” means the various firms and companies or institutions that provide funding to the ISFAP;

2.3.26

“Cash Allowance” means an amount as determined by the programme payable into the Student’s Transactional Account every month during the academic year;

2.3.27

“Termination date” means the date of expiry of the minimum prescribed period of the Designated Qualification or Undergraduate Studies; subject to Termination by either party in accordance to Clause 3.1 and/or withdrawal of funding in accordance to Clause 8.1;

2.3.28

“Transactional account” means the students Bank Account into which relevant payments will be made.

2.3.29

“Undergraduate studies” means the professional courses offered by the Designated Universities;

2.3.30

“Wrap-around support” means the support as listed in Clause 6;

2.3.31

“Academic year” means the year as determined by the Senate and adopted by the Institution’s Council, which comprises of four terms grouped into two semesters;

2.3.32

“Minimum prescribed period” means the minimum academic years prescribed for the completion of a Designated Qualification or Undergraduate Studies;

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