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WHAT IS A BURSARY?
According to Wikipedia, A bursary is a monetary award made by an institution to individuals or groups of people who cannot afford to pay full fees. In return for the bursary the individual is usually obligated to be employed at the institution for the duration as the bursary. According to The Good Schools Guide, a bursary is “usually for helping out the impoverished but deserving and those fallen on hard times.
According to The Hobsons UK Boarding Schools Guide, numerous independent schools have bursary capability, namely grants from the school to help pay education fees. These are usually awarded after a “means test” of family income and are not necessarily dependent on examination performance, although some account of academic ability will be taken. Bursaries may be awarded in addition to scholarships where financial need is demonstrated and the prospective student would otherwise be unable to enter the school.
To obtain such a bursary, it is customary for parents to be asked by the school’s bursar to fill in an application form, giving details of their financial circumstances, supported by documentary evidence, including capital assets. The application will be considered by the school in accordance with its bursary policy. The award will often only remain in force until the pupil has sat the next relevant public examination. Most schools will review bursaries annually to ensure that the justification for an award remains. In Britain any award made before GCSE will not necessarily continue to the A-level stage.
Bursaries are similar to “scholarships” or “prizes“, which are based on performance. These awards are generally given for good performance in the exams preceding university or college entrance in which the student achieves grades above the standard entry. These can be awarded by universities or, sometimes, by companies
THINGS TO KEEP IN MY WHEN APPLYING FOR A BURSARY
A lot of students are usually confused when it comes to scholarship or bursary application. When they have answered the most difficult question of where to start, then the other process becomes seamlessly easy for them. Basically that’s why we have decided to include this post to enable you successfully apply for bursaries especially for this year to aid your academic cause. The following are those important things to note before applying for a bursary.
- Most bursaries will request for your Latest Academic Record duly signed from your school, your ID document, evidence of tertiary application and most importantly an authentication that you were accepted. Similarly, some bursaries will require you to provide another proof of Guardians or Parent’ source of income and residence. After successfully sorting out these documents, then your next step is to ensure you verify your documents. If you don’t know how to, simply visit any commissioner of oath at a post office, bank or police station.
- Integrity they say is telling myself the truth while honesty is telling the truth to other people. Honesty is more than not lying. It is truth-telling, truth speaking, truth living, and truth loving. Therefore, you must ensure that whatever information you are providing is the truth and nothing but the truth. Fill all blank spaces with correct data. No legacy is so rich as honesty.
- A whole lot of students apply for bursaries without having any references at all and in other cases have references that can’t be reached. Most times this is the first step to not getting the bursary you have applied for. If you need the bursary you are applying for and you want it, then go ahead and find references with correct contact addresses.
- A lot of students also don’t have enough writing skills to win their desired bursary which can prove to be a stone in the neck in the long run. Therefore it is highly advisable that you write a highly convincing and motivational cover letter that will make anyone accessing it believe before he begins to even read it. Things such as why you think you should be awarded the bursary especially more than the other several thousand applying, how you can contribute to society when you have finished your program in school and especially how getting the bursary will be a stepping stone to achieving your dreams and changing your future for good.
- A lot of students apply for bursaries and go to sleep which is very bad. When you apply for any bursary, ensure you regularly and consistently check your Emails and your phone text messages to be sure you have not or have received a message from those assessing your application.
- Lastly, ensure you always check for bursary deadlines or closing dates so you can know exactly when to apply.
The Public Investment Corporation SOC Ltd (PIC) is under ownership of the South African Government and is the only South African investment management company, whose focus is solely on the public sector.
As a leading investment management company in Africa, its top clients include: the Unemployment Insurance Fund (UIF), the Compensation Commissioner Fund (CC), the Associated Institutions Pension Fund (AIPF), the Government Employees Pension Fund (GEPF) and the Compensation Commissioner: Pension Fund (CCPF).
The PIC bursary will be awarded for the following undergraduate (NQF 6 and 7) fields of study:
- Investment Management
- Internal Auditing
- Risk and Compliance Management
- Human Resources
- Information Communications & Technology
- Computer Science
- Graphic Design
- Actuarial Science
- Mathematical Statistics
- Data Analytics
Shortlisted candidates will be contacted – if you have not received any feedback by 31 January 2020, please consider your application unsuccessful.
Applicants must satisfy the following minimum entry criteria before applying (please note that failure to satisfy all the requirements will lead to your application not being considered):
- South African citizen
- Completed Matric OR currently in Matric
- Under 30 years old
- Studying or intend on studying towards a full-time qualification in one of the aforementioned fields of study (undergraduate only)
- Studying or accepted to study at an accredited South African tertiary institute
- Good academic record
- Currently unemployed
- Proven financial need
- From a previously disadvantaged background
HOW TO APPLY FOR THE BURSARY
Applicants will be required to register an account before they can login and apply.
Submit clear copies of the following supporting documentation along with your application (the submission of these documents is compulsory – if any items are missing, your application be disregarded):
- ID document (certified copy)
- Grade 11 final results AND Matric June results, if currently in Matric (certified copy)
- Matric certificate, if completed Matric (certified copy)
- Latest academic transcripts, if at tertiary level (certified copy)
- University acceptance letter/ preliminary acceptance letter
- Tax invoice/ proforma invoice stating fees payable (tuition, prescrived textbooks, accommodation in residence and meals) (on tertiary letterhead)
- Signed student loan agreement, if applicable
- Proof of disability, if applicable
- Proof of monthly household income and dependants
(Applications submitted after this date will not be accepted – please apply before the closing date to ensure your application is considered.)
CONTACT THE BURSARY PROVIDER
For any queries related to this bursary programme, please contact PIC directly:
The Public Investment Corporation SOC Ltd (PIC)
Tel: 012 742 3400/ 012 742 3560/ 012 742 2300
Email: [email protected]
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