The South African Actuaries Development Programme (SAADP): Bursaries 2023

The South African Actuaries Development Programme (SAADP) invites student to apply for Bursary Programme 2023 academic year.

Bursary Application Closing Date: 31 August 2022

The bursary will be awarded for studies towards an Actuarial Science qualification, at one of the SAADP partner universities: UCT, UP or WITS.

Bursaries are renewable each year based on academic performance and availability of funds.

Bursary recipients will receive the following support:

• Financial support:
  • Tuition fees
  • Textbook allowance
  • Residence fees
  • Meal allowance
  • Living allowance
• Psychosocial support:
  • Students mentorship programme (senior students will provide mentorship and social support to junior students)
  • Life skills programme (including topics like goal setting, time management, CV writing and Interviewing skills, with the aim of developing graduates to be ready for the corporate space)
• Academic support:
  • Academic tutorials or extra classes (supplementary tutorials are offered over and above the basic curriculum – senior students conduct weekly extension tutorials and sometime, technical workshops are organized)
  • Mentorship (top senior students will transfer their existing knowledge, skills, and experience to new students)
  • Vacation work (during the June/July and November/December university holidays)
  • Actuarial Seminars (qualified actuaries and graduates from the bursary share their industry experience with current students and students can interact with alumni)
  • Academic Workshops (SAADP Alumni run academic workshops to assist current students)
  • Exam preparation sessions (SAADP Alumni share their exams preparation techniques with current students)

Applicants should take note of the following steps in awarding the bursary:

• Step 1: Pre-screening – applications will be screened to ensure they meet the basic requirements (the application was submitted before the deadline, in full, with all the required supporting documents and you met the university requirements),
• Step 2: Shortlisting – the Students’ Selection and Monitoring Committee screens applications (this is external to the SAADP) and submit a list of shortlisted candidates to the SAADP (only shortlisted candidates will be contacted – if you do not receive any feedback by 28 February 2023 should consider their application unsuccessful),
• Step 3: Submission of Statements of Results – Matric students will be required to submit their final matric results and failure to do so will disqualify the applicant from the selection process
• Step 4: Selection interviews – Shortlisted Matriculants will be invited to attend a selection interview, conducted by the SSMC. Current students will receive feedback from the SAADP regarding the Selection Committee’s decision. Successful applicants will be notified of their interview outcome.

Requirements

Applicants must satisfy the following minimum entry criteria before applying for the bursary (please note that failure to satisfy all the requirements will lead to your application not being considered):
Matric/ Grade 12 students:

• You must be a South African citizen
• You must be currently in Matric
• You must achieve a minimum result of 80% for Mathematics (not Mathematics Literacy) in Matric
• You must achieve a minimum result of 80% for Physical Science in Matric
• You must achieve a minimum result of 80% for English in Matric
• You must intend on studying towards an Actuarial Science qualification in 2023
• You must have applied to study at one of the SAADP partner universities: University of Cape Town, University of Pretoria or University of the Witwatersrand (to increase your chances of university acceptance, students are encouraged to apply to all 3 universities) (studies at any other university will NOT be accepted)
• Students from commercial streams: you must apply to study Actuarial Science at UCT (UCT accepts students without Physical Science)

University students:

• You must be a South African citizen
• You must be from a previously disadvantaged background
• You must be currently studying towards an Actuarial Science qualification
• You must have achieved excellent academic results in your 1st, 2nd or 3rd year of study
• You must be studying at one of the SAADP partner universities: University of Cape Town, University of Pretoria or University of the Witwatersrand (students pursuing studies at other universities may also apply, if they applied and got accepted into one of the SAADP partner universities)

How to apply

Download and complete the SAADP Bursary Application Form 2022 (.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 may be disqualified):
Matric/ Grade 12 students:

• ID document or both sides of your ID card (certified copy)
• Grade 11 final report (certified copy)
• Matric full report (term 1, 2 and 3) (certified copy)
• Matric final statement of results/ NSC certificate (to be submitted when Matric results are released) (certified copy)
• Acceptance/ provisional admission letter to one of the partner universities (on institutions letterhead)
• 2 essays, to be completed on the application form (1. about yourself, your academic achievements, leadership qualities, and involvement in your community, 2. five or more reasons why you want to be an actuary)
• Parents death certificate or affidavit, if one or more parent is deceased (certified copy)
• Parents divorce certificate, if divorced (certified copy)

University students:

• ID document or both sides of your ID card (certified copy)
• Full academic transcripts, including most recent results (on institutions letterhead)
• Parent or guardians proof of income (certified copy of payslips if employed, latest audited financial statements or affidavit stating monthly income if self-employed, affidavit if unemployed)
• Parents death certificate or affidavit, if one or more parent is deceased (certified copy)
• Parents divorce certificate, if divorced (certified copy)

Note: if any of the above supporting documents are not available at the time of application, you may apply without them and submit them when they are available (even after the closing date).
 

Applications must be submitted via email to: applications@saadp.co.za
(Insert the words “SAADP Bursary Application” in the email subject line).