Chapter 1: The Risk and the Reward
Chapter 1: The Risk and the Reward
The Risk and the Reward: A Parent’s Financial Gamble
As the time approached for Thabo to begin his university studies, the conversation around expenses became increasingly urgent. Thabo dreamed of studying at the University of Pretoria, one of the best institutions in the world. His excitement was contagious, but behind the scenes, his parents were crunching the numbers, grappling with the financial realities of higher education. The cost of tuition, accommodation, textbooks, and living expenses for a prestigious university like Pretoria quickly added up. Considering the statistics around pass rates, it was evident that completing a degree on time wasn't a realistic achievement for many. The pressure to ensure Thabo was supported through this journey was palpable.
One evening, as the family sat around the dining table, the conversation turned serious.
“Okay, let’s break this down. For Thabo’s food allowance, I think R1500 should cover his meals for the month. He’ll need to eat well if he’s going to study effectively.”
“Absolutely. And we can’t forget about his data. As a student, he’ll need reliable internet access for research and assignments. Anything over 100GB should be enough to last him a month. Let’s budget R500 for that, bringing the total to R2200.”
“R2200 for food and data is just the start. We also need to account for transport. If he’s taking the bus to campus, that’s around R820 a month.”
Duncan: “Right, so we’re already at R3020. And what about the textbooks? Those can get really expensive, especially if we have to buy new editions.”
“I did some research. Textbooks can cost anywhere from R500 to R1000 per semester. If we assume he needs around R800 on average for the month, that brings us to R3820.”
Duncan: “And we still haven’t touched tuition or accommodation! How much is the tuition going to be?”
“Let me check my notes. Tuition for the University of Pretoria is around R30,000 per year for Thabo’s program. That’s about R2500 a month if we break it down.”
Duncan: “So, adding that in, we’re looking at R6320 per month already. And that doesn’t even cover accommodation!”
“Exactly. University residences are typically around R4000 to R6000 a month. Let’s estimate R5000 for his living arrangements. That pushes our total to R11320.”
Duncan: “This is getting hefty. We might have to consider a loan to cover these costs. It’s a gamble, but if it means he can focus on his studies without working a part-time job, it might be worth it.”
“That’s true, but taking out a loan also comes with its own risks. If he doesn’t complete his degree on time, he might be stuck with debt without a degree to show for it.”
Duncan: “That’s a valid point. But if we dedicate these resources to him, shouldn’t we be willing to invest in his future without making it conditional? Sometimes we have to put our egos aside and let him forge his own path.”
“You’re right. Our job as parents is to support him, and this is an investment in his future. Let’s make sure he knows how serious this is so he can approach his studies with the right mindset.”
Duncan: “Definitely. Thabo, can you email the admissions office to request the latest tuition and accommodation quotes? We need to have all the information in front of us.”
“Sure, I’ll get on that right away! Thanks for believing in me, Mom and Dad. I won’t let you down.”
With that, Thabo felt a mix of gratitude and determination. He understood the sacrifices his parents were willing to make to support his dreams, and he was motivated to make the most of this opportunity. As the family continued to discuss their plans, the conversation illuminated the delicate balancing act they faced: the desire to support Thabo’s dreams against the harsh realities of financial strain.