Are you looking for financial assistance to continue your higher studies? If your answer is yes, then you are in the right place. Many organisations, universities, and other institutes are developed to provide bursaries for students pursuing their higher studies. Old Mutual Bursary is South Africa’s most trusted and prominent financial services provider, assisting individuals and businesses.
Curious about what this Mutual Bursary covers? It is more than just financial aid. It is a comprehensive support system that can help you with various aspects of your higher studies. Keep reading to learn more about this all-encompassing bursary.
In this article, let us learn more in detail about the Old Mutual Bursary, its application process, monthly allowance, eligibility requirements, and closing dates. Continue reading to understand how this bursary can shape your academic future.
What is the Old Mutual Bursary?
This Mutual Bursary, established in 1845, is South Africa’s first mutual life insurance provider, which provides services to a range of insurance cover options and savings plans for individuals, including:
- Financial Planning,
- Education Planning,
- Retirement Planning,
- Savings And Investments,
- Disability And Severe Illness Cover,
- Short-Term Insurance, Life Insurance And More.
Today, this bursary is a premier pan-African financial service group operating in more than 12 countries. It invites South African students interested in continuing their higher studies to apply for bursaries for the current academic year.
An Old Mutual Bursary 2024 funds students to continue their higher studies. Selection for this bursary is based on the individual’s academic excellence. Thus, the bursary allows aspiring students to continue their studies by enroling at a prestigious university in South Africa and ensuring they bear all educational expenses.
What are the Eligibility Requirements For Old Mutual Bursary?
There are specific eligibility criteria or requirements that every applicant must satisfy before applying for this bursary. Some of these requirements include:
- Applicants must be a South African Citizen,
- Applicants must not be more than 21 years of age,
- Applicants must be currently studying in Matric or should have completed Matric,
- Applicants must be willing to pursue their higher education towards graduation in Accounting Science or other Chartered Accounting stream qualifications,
- Applicants must be willing to pursue their graduation in any of these South African institutes:
- Rhodes University,
- University of Pretoria,
- North-West University,
- University of Fort Hare,
- University of Free State,
- University of Cape Town,
- University of Stellenbosch,
- University of Western Cape,
- University of Johannesburg,
- University of KwaZulu-Natal,
- University of the Witwatersrand,
- University of South Africa (UNISA),
- Nelson Mandela Metropolitan University.
- Applicants must score a minimum aggregate marks of 70 per cent in their matric,
- Applicants must score minimum aggregate marks of 70 per cent or higher for Mathematics in their matric,
- Applicants must score a minimum aggregate marks of 60 per cent or higher for English (First Additional Language) in their matric.
These were some general requirements for getting a bursary in South Africa. Students can explore the eligibility requirements further on the bursary’s website.
In addition to these eligibility requirements, applicants applying for this bursary must be committed to entering the old mutual Chartered Training (CA) programme and serving the company.
Note: Please complete or satisfy these requirements to avoid the rejection of your application.
Old Mutual Bursary – Fields Covered, Allowances and Closing Date
This mutual bursary funds financially challenged students to continue their higher studies on a full-time basis for undergraduate programmes at selected universities in South Africa.
Fields Covered
Old Mutual is inviting applicants to apply for its Bursary Programme for the 2024 academic year. This bursary is open to applicants pursuing Information Technology (IT) qualifications and also provides an accounting bursary for South African students interested in or pursuing higher education in accounting science and young individuals passionate about making a career in chartered accounting.
Allowances
An Old Mutual Bursary allowance includes:
- A complete Tuition fee,
- Study materials, Textbooks,
- Allowances for meals, accommodation
- Travel allowances residence if the applicant is studying outside of their hometown,
- Other financial support for the entire duration of their higher studies.
Along with these allowances, students also receive personal mentoring from an expert actuary; students can receive more incentives based on their academic excellence, Vacation work from the second year of their studies, Guaranteed employment after graduation and more.
Closing Date
This Mutual bursary is inviting students to apply for their Accounting Bursary programme for the 2025 academic year. As per the notification given on the website, the application closing date will be 30 September (23:59). If applicants have any questions about the old mutual bursary’s application process, eligibility requirements, or the closing date, they can directly reach out to Email: earlycareers@oldmutual.com
Step-by-Step Guide to Online Bursary Application for Old Mutual Bursary 2024
Applying for this mutual bursary 2024 is simple. Applicants must apply online by visiting the bursary’s official website. Before applying, browse the Old Mutual website to learn in detail about the old mutual funding. Applicants willing to apply for the bursary for a current academic year must be submitted online at Old Mutual Actuarial Science Bursary Application.
Here is a step-by-step guide to help students apply for mutual bursary 2024:
- Visit the official website,
- Applicants are required to create an Account before they can log in and apply.
- Check for the online application form, read all the information carefully, and then fill out the form with accurate information.
- Upload all the essential scanned documents.
- Once you have uploaded all the documents and reviewed the application form, click the submit button to complete the process. Then, download the consent form.
- Once after submission and approval of the application form:
- Shortlisted candidates will be sent a link to complete psychometric assessments.
- Finalists will be invited to a selection day, where we will conduct interviews.
Essential Documentations Required for the Bursary’s Application Process 2024
Applicants must upload scanned copies of the supporting documentation. The bursary provider will post the list of required documents on its official website.
Required documentation to be included in the application is listed below:
- ID Proof,
- One pager CV,
- Head and Shoulders Photo,
- NBT Statement (if applicable),
- All academic records from Grades 10 – 12,
- A motivational letter to support your application,
- University acceptance letter for the current academic year,
- Full Academic Transcript (applicable to current University students only).
Conclusion
Old Mutual Bursary is South Africa’s leading funding provider, enabling every citizen to succeed. Providing bursaries for young youth passionate about pursuing their career makes a real difference.
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Frequently Asked Questions: How to Apply for an Old Mutual Bursary 2024?
What is an Actuarial science?
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, and more.
Is Old Mutual funding available for online study?
No. This bursary is available only for full-time study, and applicants must be enroled in selected institutions in South Africa.
Is there any age limit for applying for this bursary?
Yes. Applicants applying for this bursary must be under 21 years old.
What is the minimum education required to apply for this bursary?
The applicant for this bursary must have completed or been currently in Matric and have yet to complete their post-matric qualifications.
What is the NBT statement?
NBT refers to the National Benchmark Test. An entrance exam or test conducted mainly for University Entrance measures students’ readiness for university study.
