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17 February 2022 | Story Anthony Mthembu | Photo Sonia Small
UFS students

The University of the Free State realises that the registration period can be stressful and frustrating to students for various reasons. 

In an effort to ensure that as many students as possible can successfully register for the 2022 academic year, the University of the Free State (UFS) has introduced a number of financial concessions. These financial concessions are specifically intended to fast-track the registration process of students who are currently awaiting confirmation of funding from the National Student Financial Aid Scheme (NSFAS).

Students with challenges regarding the application of the N+ rule

Students who have previously registered for foundation programmes and those who have continued with mainstream programmes will be allowed to register without the prerequisite of a first payment. This is on condition that they apply with the N+ rule (an added year of funding) and that their respective foundation programmes are included in the Department of Higher Education and Training (DHET)-funded list. Only students who do not have outstanding debt will qualify for this concession. 

2022 NSFAS-funded students

In addition, students whose funding has been confirmed by NSFAS for the 2022 academic year, will be permitted to register without a first payment.

Students without NSFAS 2022 funding confirmation with outstanding debt

Students awaiting NSFAS funding confirmation for 2022 will be allowed to register provisionally if their debt does not exceed R25 000.
Approval has been obtained to increase the maximum debt carried forward from 2021 from R20 000 to R25 000 to enable students to register provisionally.

Provisional registration for continuing NSFAS students 

Furthermore, continuing NSFAS students who are currently awaiting funding confirmation for the 2022 academic year, will be permitted to register provisionally. These are students
• who have been funded by NSFAS in 2021; 
• whose funding reflects on the NSFAS Bursary Agreement Report for the year 2021; and
• who have passed 50% of registered modules in 2021 or are in their final year in 2022. 
• The offer for continuing students to register provisionally also extend to those who are in the N+1 period. 

The official registration of these students will be subject to funding approval from NSFAS for the 2022 academic year. To ensure that all students are in classes on 21 February 2022, the abovementioned group of students have until 31 March 2022 to confirm their funding. 

Conditional registration for first-time entering students

With registration an overwhelming experience for first-time entering students, the UFS is also looking at concessions for these students who will start their studies at the university this year. 

The university has given first-time entering students who have applied for NSFAS funding and are awaiting confirmation, until 28 February 2022 to finalise their registration. 

Permission to finalise registration a week after the UFS registration cut-off time is granted to all South African first-time entering undergraduate students who are admitted and term-activated for 2022 NSFAS-funded academic programmes, and whose funding has not yet been confirmed. 

The amount payable for conditional registration for first-time entering students (residential and non-residential) is R500.

The UFS is hopeful that these financial concessions will assist in calming anxiety around the ongoing registration process.


News Archive

Producers to save thousands with routine marketing strategies, says UFS researcher
2014-09-01

 

Photo: en.wikipedia.org

Using derivative markets as a marketing strategy can be complicated for farmers. The producers tend to use high risk strategies which include the selling of the crop on the cash market after harvest; whilst the high market risks require innovative strategies including the use of futures and options as traded on the South African Futures Exchange (SAFEX).

Using these innovative strategies are mostly due to a lack of interest and knowledge of the market. The purpose of the research conducted by Dr Dirk Strydom and Manfred Venter from the Department of Agricultural Economics at the University of the Free State (UFS) is to examine whether the adoption of a basic routine strategy is better than adopting no strategy at all.

The research illustrates that by using a Stochastic Efficiency with Respect to a Function (SERF) and Cumulative Distribution Function (CDF) that the use of five basic routine marketing strategies can be more rewarding. These basic strategies are:
• Put (plant time)
• Twelve-segment pricing
• Three-segment pricing
• Put (pollination)(Critical Moment in production/marketing process), and
• Pricing during pollination phase.

These strategies can be adopted by farmers without an in-depth understanding of the market and market-signals. Farmers can save as much as R1.6 million per year on a 2000ha farm with an average yield.

The results obtained from the research illustrate that each strategy is different for each crop. Very important is that the hedging strategies are better than no hedging strategy at all.

This research can also be applicable to the procurement side of the supply chain.

Maize milling firms use complex procurement strategies to procure their raw materials, or sometimes no strategy at all. In this research, basic routine price hedging strategies were analysed as part of the procurement of white maize over a ten-year period ranging from 2002–2012. Part of the pricing strategies used to procure white maize over the period of ten years were a call and min/max strategy. These strategies were compared to the baseline spot market. The data was obtained from the Johannesburg Stock Exchange’s Agricultural Products Division better known as SAFEX.

The results obtained from the research prove that by using basic routine price-hedging strategies to procure white maize, it is more beneficial to do so than by procuring from the spot market (a difference of more than R100 mil).

Thus, it can be concluded that it is not always necessary to use a complex method of sourcing white maize through SAFEX, to be efficient. By implementing a basic routine price hedging strategy year on year it can be better than procuring from the spot market.

Understanding the Maize Maze by Dr Dirk Strydom and Manfred Venter (pdf) - The Dairy Mail


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