South African Actuaries Development Programme Bursary 2021/2022
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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 University of Johannesburg was established in 2005 when a merger occurred between the Rand Afrikaans University (RAU), the Soweto and East Rand campuses of Vista University and the Technikon Witwatersrand (TWR).
Below is a list of bursaries specifically for UJ students (current and prospective). See which bursaries are applicable to you and follow the simple instructions on how to apply.
The South African Actuaries Development Programme (SAADP), established in 2003, was founded when it was identified that the South African economy lacked black actuarial skills. Previously chaired by Cyril Ramaphosa, the SAADP has since produced more than 200 Actuarial Science graduates.
The programme is funded by various donors, including: First Rand Foundation; Deloitte; Discovery; Insight; Sasria SOC Limited; Bankseta and INSETA. The companies core values include: Proudly South African; Excellence; Integrity; Professionalism; Transparency; Gender-agnostic; Supportive and nurturing.
FIELDS COVERED & COVERAGE VALUE
The SAADP bursary is aimed at students with strong academic records who are studying or intend on studying towards an Actuarial Science qualification. Bursaries are renewable dependent on academic performance.
The bursary will cover the following expenses – tuition fees, prescribed textbooks, accommodation in residence, meals and a living allowance.
Over and above the monetary coverage, students will also receive mentorship; additional tutorials; academic and social support from full time programme Managers located at the partner universities.
Shortlisted candidates will be required to attend an interview, however SAADP will provide acknowledgement of receipt of all applications submitted.
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):
Matric/ Grade 12 students:
- Currently in Matric
- Have a strong academic record
- Achieving a minimum of 80%/ level 7 for Mathematics (NOT Mathematical Literacy)
- Achieving a minimum of 80%/ level 7 for Physical Science
- Achieving a minimum of 80%/ level 7 for English
- Interested in studying Actuarial Science
- Currently studying towards an Actuarial Science qualification
- Achieved good academic results for your first/ second/ third year of studies
- Studying at one of the following institutes: University of Cape Town (UCT)/ University of Pretoria (UP)/ University of the Witwatersrand (WITS)
- If not studying at one of the above institutes, must have applied and been accepted to study Actuarial Science at one of the above universities
- From a previously disadvantaged background
HOW TO APPLY FOR THE BURSARY
Download and complete the SAADP 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):
Matric/ Grade 12 students:
- ID document (certified copy)
- Photo (passport sized)
- Grade 11 end of year results (certified copy of)
- Grade 12 mid-year results (certified copy of)
- National Benchmark Tests results (to be submitted by 31 August at the latest, via the fax number below)
- ID document (certified copy of)
- Latest academic record
Applications must be submitted electronically via email to: [email protected]
(Insert the words “SAADP Bursary Application – Your Full Name” in the email subject line).
Faxed applications will not be accepted.
31 August 2021
(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 the SAADP directly:
Tel: 011 642 2202
Fax: 011 486 1859 / 086 635 2372
Email: [email protected]
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