WaFunda Income Share Agreement (ISA) is providing an alternative funding opportunity for eligible South African graduates who have completed their university studies but still have outstanding university debt.
For many students, completing a university qualification is a major achievement. However, outstanding fees can make it difficult for graduates to receive their qualifications and move forward with their careers. In some cases, students may have completed their academic requirements but remain unable to access their final qualification because of unpaid university fees.
The WaFunda ISA has been designed to help eligible graduates deal with approved outstanding university debt. Instead of requiring graduates to start making traditional loan repayments immediately, the Income Share Agreement allows qualifying graduates to repay an agreed percentage of their future income after they are employed and earn above the required income threshold.
This opportunity may be suitable for graduates who completed their university qualification in 2025 and still have outstanding university debt that falls within the programme’s funding limits.
What Is the WaFunda Income Share Agreement?
The WaFunda Income Share Agreement is an alternative form of student finance. It is designed to help eligible graduates settle approved outstanding university debt directly with their university.
Unlike a traditional student loan, the programme does not work by requiring the graduate to make fixed repayments immediately after receiving funding. Instead, the graduate agrees to repay a percentage of their future net income once they are employed and earning above the minimum income threshold.
According to the available programme information, repayments only begin once an eligible graduate is earning at least R7,000 per month.
This approach is intended to reduce financial pressure during the period when graduates are looking for employment and starting their careers.
If an eligible graduate is unemployed or earns below the required income threshold, repayments can be paused. However, applicants should carefully review the latest terms and conditions before entering into an agreement because service fees and other programme conditions may apply.
What Does the WaFunda ISA Cover?
The programme can cover the approved outstanding balance reflected on a qualifying student’s official university account.
You May Also Like
Looking for more job opportunities? Browse the categories below and discover the latest vacancies, learnerships, bursaries, government jobs, retail jobs, security jobs, cleaning jobs, and more on Dont Worry Job Connections.
- General Jobs Across South Africa
Find the latest General Worker, Driver, Warehouse, Factory, Hospitality and Entry-Level jobs.
View General Jobs → - Retail Store Jobs
Explore the latest vacancies for Cashiers, Shelf Packers, Sales Assistants, Merchandisers and Store Assistants from leading retailers across South Africa.
View Retail Jobs → - Government Vacancies
Browse the latest Government Jobs, Municipality Vacancies, Department Opportunities and Public Service Careers.
View Government Jobs → - Security Jobs
Find Armed Response, Security Officer, Control Room, CCTV Operator and Supervisor vacancies throughout South Africa.
View Security Jobs → - Latest Learnership Opportunities
Apply for Learnership Programmes designed to help unemployed South Africans gain valuable workplace experience and recognised qualifications.
View Learnerships → - Bursaries and Student Funding
Discover bursary opportunities that can help fund your studies at universities, colleges and training institutions.
View Bursaries → - Cleaning Jobs
View Cleaner, Housekeeping, Hospital Cleaning, Office Cleaning and General Cleaning vacancies available nationwide.
View Cleaning Jobs →
Don’t miss out! New vacancies are added regularly, so bookmark dontworry.co.za and visit daily for the latest verified job opportunities across South Africa.
Depending on the university account and the programme’s approval criteria, the funding may cover costs such as outstanding tuition fees, accommodation, books, study equipment and other approved university charges.
The funding is paid directly to the university rather than being paid into the graduate’s personal bank account.
This is important because the main purpose of the programme is to assist eligible graduates in settling their approved university debt and removing financial barriers that may prevent them from receiving their qualifications.
WaFunda ISA Requirements
Applicants must meet the programme’s eligibility requirements before they can be considered for funding. Meeting one requirement does not automatically guarantee approval.
The available information indicates that applicants should meet the following requirements:
- Be a South African citizen or permanent resident.
- Have completed a university qualification in 2025.
- Have outstanding university debt between R15,000 and R200,000.
- Have an annual household income of R600,000 or less.
- For persons with disabilities, the household income limit may be R850,000 or less.
- Have outstanding debt at one of the participating universities.
- Meet the programme’s assessment and approval requirements.
Students who previously received a partial bursary may also be considered if they still have outstanding university debt that falls within the approved funding limits.
Applicants should always check the latest official WaFunda requirements before submitting an application because programme conditions, eligibility criteria and participating institutions may change.
Which Universities Are Supported?
The WaFunda ISA programme is currently associated with selected South African universities. The available information lists the following institutions:
- University of Cape Town
- University of Pretoria
- University of KwaZulu-Natal
- Stellenbosch University
- University of the Witwatersrand
Applicants should confirm that their university and qualification are supported before starting the application process.
Who Should Apply?
This opportunity may be suitable for South African graduates who have completed their university studies but cannot obtain their qualification because they have an outstanding university account.
It may also be worth considering for graduates who have already completed their academic requirements and are ready to enter the employment market but need assistance with their outstanding fees.
Applicants should understand that the WaFunda ISA is not simply a free bursary. It is an income share arrangement. Successful applicants agree to repay a portion of their future income according to the terms of the agreement.
Therefore, applicants should read all programme information carefully and understand their repayment responsibilities before accepting funding.
How Does the WaFunda ISA Work?
The process begins when an eligible graduate applies for the programme and provides the information required for assessment.
WaFunda then assesses the applicant and the outstanding university debt. If the application is approved, the agreed funding amount is paid directly towards the eligible university account.
The graduate can then focus on completing the transition from university into the workplace without having to make traditional loan repayments immediately.
Once the graduate obtains employment and earns above the required income threshold, repayments can begin.
The repayment is based on an agreed percentage of the graduate’s net income. This means the repayment structure is connected to the graduate’s earnings rather than being a standard fixed instalment.
If the graduate becomes unemployed or earns below the required threshold, repayments may be paused in accordance with the agreement. Applicants should note that other programme fees or conditions may still apply during periods when repayments are paused.
What Are the Benefits of the WaFunda ISA?
One of the main benefits of the programme is that it may help eligible graduates settle outstanding university debt and obtain their qualifications.
Having access to a completed qualification can be important when applying for jobs, graduate programmes and further study opportunities. Removing an outstanding university debt barrier may therefore help graduates move forward with their careers.
Another potential benefit is the income-linked repayment model. Graduates do not necessarily have to begin making repayments immediately after receiving support. Instead, repayment is linked to employment and the required income level.
The programme may also provide career-related support to successful applicants. This can include financial literacy, career readiness, recruitment assistance and other student support resources.
According to the programme information, repayments made by graduates are reinvested into the ISA fund. This can help create funding opportunities for other students and graduates facing similar financial barriers.
Important Information Before Applying
Applicants should understand that approval is not automatic. Meeting the basic eligibility requirements does not guarantee that an application will be successful.
Applicants should provide accurate information during the application process. Any information relating to university debt, household income, personal details and academic qualifications should be correct and supported by the required documentation.
It is also important to understand the repayment agreement before accepting funding. An Income Share Agreement creates an obligation to repay according to the agreed terms once the relevant conditions are met.
Applicants should therefore read the official agreement carefully and make sure they understand the repayment percentage, income threshold, repayment period, maximum repayment amount, service fees and other conditions that may apply.
How to Apply for the WaFunda ISA
Interested graduates should apply through the official WaFunda application process.
Before starting the application, applicants should have their personal information, university details and information about their outstanding university account available.
Applicants should also confirm that they meet the current eligibility requirements and that their university is included in the programme.
The application should be completed using the official WaFunda platform. Avoid applying through unofficial websites, social media accounts or individuals claiming that they can guarantee approval.
Applicants should never pay an unknown person simply because they claim they can secure funding or employment. Always verify the application process through the official organisation.
Application link: The official WaFunda application link can be added below this article.
Documents Applicants May Need
Applicants may be required to provide documents to confirm their identity, academic background, university account and financial circumstances.
Depending on the application process, these may include identification documents, proof of university registration or completion, an official university fee statement and other financial or supporting documents.
Applicants should only submit documents requested through the official application process. Make sure that uploaded documents are clear and contain accurate information.
Frequently Asked Questions
What is the WaFunda ISA?
The WaFunda Income Share Agreement is an alternative student finance programme designed to help eligible graduates settle approved outstanding university debt.
Who can apply?
The programme is aimed at eligible South African citizens or permanent residents who completed a university qualification in 2025 and have qualifying outstanding university debt.
How much outstanding debt can be considered?
The available programme information indicates that outstanding university debt of between R15,000 and R200,000 may qualify, subject to the programme’s assessment and conditions.
When do repayments start?
According to the available information, repayments begin when an eligible graduate is employed and earns at least R7,000 per month.
Is the WaFunda ISA a bursary?
No. The WaFunda ISA is an income share arrangement. Successful applicants agree to repay a percentage of their future income according to the terms of the agreement.
Which universities are supported?
The listed partner universities include the University of Cape Town, University of Pretoria, University of KwaZulu-Natal, Stellenbosch University and the University of the Witwatersrand. Applicants should confirm the latest participating university list before applying.
Can unemployed graduates make repayments?
According to the available programme information, repayments may be paused when a graduate is unemployed or earns below the minimum income threshold. However, service fees or other conditions may apply.
Does WaFunda pay the money directly to students?
The approved funding is intended to be paid directly to the qualifying university towards the approved outstanding account rather than being paid directly to the graduate.
Final Reminder for Applicants
The WaFunda ISA may provide an important opportunity for graduates who have completed their university studies but remain held back by outstanding university debt.
However, applicants should not rush into an Income Share Agreement without understanding how it works. Take time to read the official requirements, repayment conditions and programme information before applying.
If you meet the eligibility requirements, have qualifying outstanding university debt and attended one of the supported institutions, you may consider applying through the official WaFunda application process.
Remember that funding approval is subject to the programme’s assessment. Do not pay third parties who promise guaranteed approval.
Terms and Conditions – DontWorry.co.za
DontWorry.co.za provides this information for educational and informational purposes to help South African students and graduates discover opportunities that may be relevant to them.
We are not the funding provider and we do not make decisions regarding applications, eligibility, approval or repayment arrangements.
Applicants are responsible for checking the latest information directly with WaFunda before applying. Programme requirements, participating institutions, funding limits and application procedures may change without prior notice.
DontWorry.co.za does not guarantee that any applicant will receive funding. Applicants should read the official terms and conditions before entering into any financial agreement.
For your safety, never provide your banking password, PIN or other confidential banking information to an unknown person claiming to represent a funding provider.
Official application information: Add the verified WaFunda company/application link here.
Good luck to all South African graduates who are working towards receiving their qualifications and starting their careers.