For what it's worth - did my hons through Unisa (undergrad as well):
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They do force you to take the research modules (HPCOS81 and HRCOS82) over two years - tried to get them to let me do it in one year, but no luck.
Can confirm that the "support" you get is basically non-existent, but was used to it after undergrad. Also the comment earlier in the thread about receiving your assignment marks late rings very true. Once got a mark back for my final assignment after I had taken the exam....
That said- it wasn't that brutal to complete. I'm no genius, so had my struggles, and working full time doesn't help. But expect most people will be in the same boat who are considering this.
HRCOS82 can be a lot of work, not all of it fun (mostly the admin around constructing the research paper). I picked a project that had me writing an ML android app with OpenCV, and I had never touched Java and android dev before. Bit mad. But it was also this project that landed me my first dev job straight after this.
Depending on your background, wouldn't recommend taking the Formal logic stuff if you didn't do quite a bit of it in undergrad, as it builds. Not really that difficult, but you will have a lot of gaps that you will need to fill.
Software engineering is more theoretical in nature, bit of a drag to be honest. Lots of methodologies etc. you have to parrot-learn.
Loved Machine Learning and Natural Language Processing, as well as Formal Program Verification (interesting math).
I shaped up fairly well in the workplace, although both my undergrad and hons I structured more towards the AI/ML/Formal logic side - which I haven't used that much. Never felt like I was behind the curve by going the UNISA route.
That said - have a new Software Engineering grad from UKZN under me, and his technical skills are really good. Would say his training was definitely better than UNISA.
Good luck with your decision, makes me want to start studying again.