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SAICA Thuthuka Bursary Fund South Africa 2023/2024

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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 MIND 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 parents’ 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 South African Institute of Chartered Accountants (SAICA) is a South African based accountancy body, in fact, they are the top accountancy body in the country. The history of the company dates back to 1894 when it was formed in Johannesburg as “The Institute of Accountants and Auditors”.

SAICA is one of the global leading Institutes and currently boasts more than 36 000 members. The company prides itself on providing its CAs with advice, support, and services over the course of their professional lives.

In 1987, SAICA joined forces with the Association for the Advancement of Black Accountants (ABASA) and the PAAB to create the CAs’ Eden Trust, as a means to provide bursary funding to black CAs(SA). The name then changed to the Thuthuka Bursary Fund in 2002 and has since assisted many struggling students to complete their studies and reach their dreams of becoming a CA.

FIELDS COVERED

The Thuthuka Bursary Fund is intended for academically strong black and coloured students, excelling in Mathematics, who wish to pursue a career in Chartered Accountancy (SA).

Bursaries will be awarded for studies at the following Thuthuka accredited universities, for the following courses:

University of Johannesburg – Bachelor of Accounting (course code: BCA012)
University of Pretoria – BCom Accounting Sciences (course code: 07130042)
University of Witwatersrand – BAcc Science (course code: CB008)
University of the Free State – Bachelor of Accounting (course code: 6319)
University of Fort Hare – B Commerce in Accounting (course code: 60001)
University of Cape Town – BCom (course code: CB023)
Stellenbosch University – BCom Accounting (course code: 3091001)
Rhodes University – Bachelor of Commerce (Accounting)
Nelson Mandela University – BCom Accounting (course code: 40003)
North-West University Potchefstroom Campus – BCom CA (course code: 500 155 E371P)
University of Kwa-Zulu Natal Westville Campus – BCom Accounting (course code: BCOA)

Bursary recipients will be required to sign an agreement with the Thuthuka Bursary Fund and NSFAS. Bursaries are awarded annually and are renewed at the discretion of the fund.

Shortlisted applicants who have been provisionally awarded bursaries will be notified in December. If you do not receive any feedback, your application has not been successful.

ELIGIBILITY REQUIREMENTS

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
Black student (African or Coloured)
Currently in Matric OR have completed Matric
Passed Mathematics in Matric (NOT Mathematical Literacy or Technical Mathematics)
Achieve a Bachelors Pass and M-Score to study towards a CA (SA) qualification
Studying or intend on studying at one of the aforementioned universities (must have applied to at least 3 universities, of which 1 must be closest to your home)
Meet the university entrance qualifying criteria to study a BCom Accounting (CA-stream) degree qualification
Proven financial need (this will be assessed by the NSFAS means test)
Have written OR will apply and write the National Benchmark Tests (NBT) before the bursary closing date

HOW TO APPLY FOR THE BURSARY

Download and complete the Thuthuka Bursary Application Form (.pdf)
Submit clear copies of the following supporting documentation along with your completed application form (the submission of these documents is compulsory – if any items are missing, your application be disregarded):

ID document (certified copy)
Grade 11 final results (certified copy)
Matric latest results, if currently in Matric (certified copy)
Matric final results AND Matric certificate, if completed Matric (certified copy)
Letter from your school confirming your enrollment and subjects (stamped and signed on school letter
University provisional letter of acceptance (to be submitted as soon as received)
University registration if at University
Full academic transcript if at University
National Benchmark Tests results (if already completed)
Parents/ guardians ID documents (certified copies)
Parents/ guardians proof of income (latest payslips if employed/ affidavit if unemployed) (certified copies)
ID documents or birth certificates of other dependants in your home (certified copies)

Applications must be submitted in one of the following ways:
1) Email: [email protected]
2) Post:
Thuthuka Bursary Fund
Private Bag X32
NORTHLANDS
2116

CLOSING DATE

28 June
(Applications submitted after this date will not be accepted – please apply before the closing date to ensure your application is considered.)