The Compensation Fund under the Department of Employment and Labour has established a bursary to support African students from various backgrounds in pursuing higher education. This bursary is designed to provide financial relief to the dependents of workers who have been injured or contracted diseases while on duty. It covers tuition, accommodation, books, and other essential expenses, allowing students to focus on their studies without financial stress.
Targeted at fields related to health, safety, and social security, the Compensation Fund Bursary is committed to helping students earn skill sets, become knowledgeable and become a workforce that can contribute to the country’s economic and social development. This initiative not only opens doors to educational opportunities for deserving students but also underscores the government’s commitment to social justice and equality.
In this article, you can read about the Compensation Fund Bursary 2024, Its eligibility requirements, online application process, allowance and more.
Table of Contents
About the Compensation Fund
The Compensation Fund bursary in South Africa was established under the Occupational Injuries and Diseases Act, 130 of 1993. It provides monetary support to South African candidates pursuing higher education. This initiative aids the families of workers who have been wounded or become ill as a result of their employment.
It attempts to reduce the financial burden on candidates from various backgrounds, allowing them to focus on their academic ambitions by covering essential expenses such as tuition, housing, etc. In the South African region, candidates often look to pursue different types of postgraduate programmes, but due to a lack of support, they cannot afford the education. However, they can read about postgraduate bursaries for more information.
What is the Compensation Fund Bursary Allowance?
The Compensation Fund Bursary provides financial support to cover various expenses related to tertiary education, which may include:
- Full or partial coverage of tuition fees.
- Subsidies for on-campus or off-campus housing.
- Allowances for purchasing required textbooks and materials.
- Stipends to assist with daily living expenses.
- Support for commuting to and from the institution.
Bursaries are awarded for one academic year at a time, and this bursary is renewable for each year. There are also different programme-based bursaries, such as MBA programmes, you can read about MBA Bursaries for more detail.
Compensation Fund Bursary Eligibility Requirement for Applicants
To qualify for the Compensation Fund Bursary, applicants must meet specific eligibility criteria:
- Applicants must be a South African citizen aged between 17 and 35 years old
- Applicant must be currently unemployed
- Applicants must be a COID beneficiary with a permanent disablement (PWD) as a result of occupational injuries/ diseases
- Applicant must intend on studying within one of the aforementioned fields of study
- The applicant must have been accepted to study at a recognised Technical and Vocational Education and Training (TVET) College, Community Education and Training (CET) College or Higher Education Institution (HEl)
- Lastly, the applicant must intend to improve their skills to return to the workforce or become self-employed.
How to Apply Online for Compensation Fund Bursary?
Applying for the Compensation Fund Bursary involves different steps, which are as follows:
- Step 1: Visit the Official Website and download the Compensation Fund Bursary Application Form 2024
- Step 2: Fill out the application form accurately with all the required personal, academic, and financial details.
- Step 3: Gather all necessary supporting documents as specified on the official website
- Step 4: Submit your completed application form and supporting documents via the designated online portal.
After successfully submitting the compensation bursary application, you can check your email and SMS on your registered mobile number.
Key Tips to Remember for the Compensation Fund Bursary
Some of the key things to remember for the compensation fund bursary are as follows:
- You need to make sure you meet all eligibility criteria before applying.
- Submit your application well before the closing date to avoid last-minute issues.
- You should strictly follow the application guidelines and instructions.
- Retain copies of your application and supporting documents for your records.
Documents Required for the Compensation Fund Bursary
Some of the essential documents required for the compensation fund bursary are as follows:
- Applicant ID document (certified copy)
- Applicant COID pension number or COID claim number
- Attach the latest academic transcript if the applicant is currently studying
- Also, applicants need to add proof of acceptance from an approved institute
- Details about the Tuition fees, quotations etc.
- Prescribed Learning Resources quotation, if available (on institution letterhead)
- Applicant’s Proof of residence
- In case of disability, Proof of disability (verification by a Health Care Professional or Disability Support Office)
- Need to attach pre-entry assessment (if applying for the apprenticeship programme)
- Applicants also need to attach proof of income (latest payslip if employed: certified copy, affidavit if unemployed or an informal worker, proof of SASSA grant if applicable, proof pension if applicable, or other proof of income)
When is the Compensation Fund Bursary Closing Date?
The closing date for the Compensation Fund Bursary applications was 31 March 2024. Applicants can check the official website for next year’s bursary date and more information on the bursary. It’s crucial to check the official announcement for any updates or changes to this deadline.
Contact Details of the Compensation Fund Bursary
Any applicant who has further queries can directly connect to the bursary provider. There are multiple ways to connect with the Compensation Fund bursary team. You can connect with them by phone or email them with your query.
Tel: 012 319 9264 / 012 319 5774 / 012 319 9124 / 012 319 9264
Email: cfexternalbursaries@labour.gov.za
Conclusion
The Compensation Fund Bursary 2024 presents an invaluable opportunity for South African students in need of financial assistance to pursue their academic goals. By meeting the eligibility requirements, following the application steps meticulously, and submitting all necessary documents, applicants can enhance their chances of securing this support. This bursary not only lifts the financial burdens but also promotes educational advancement among deserving students.
About to take your first step towards bursary application? Regenesys is here to provide you with the course quotation to assist you in beginning your journey for the bursary. Besides, our career counsellor will offer you guidance to help you navigate the bursary application process. Connect With Us Now!
Frequently Asked Questions – Compensation Fund Bursary in 2024
Can I apply if I am not a South African citizen?
No, only South African citizens are eligible for the Compensation Fund Bursary.
What fields of study are prioritised by the bursary?
The bursary prioritises fields related to health, safety, social security, and other areas specified by the Compensation Fund.
Can I apply if I am already receiving another bursary?
Yes, but you must disclose any other financial aid you are receiving. The Compensation Fund may take this into account when awarding the bursary.
How will I know if my application was successful?
Successful applicants will be notified via email or phone. Additionally, the list of successful candidates may be published on the Compensation Fund Bursaries’ official website.
Is there an interview process for the bursary?
Some applicants may be required to attend an interview as part of the selection process. If applicable, this will be communicated to the applicants.
2 Comments
I would love to receive the NSFAS and continue my studies
I would appreciate to receive a bursary to continue my studies