Did you know that the South African Reserve Bank (SARB) invites learners for its external bursary programme? Yes, you heard it right. South Africa’s Central Bank is offering bursaries to students from disadvantaged backgrounds as part of their corporate social initiative to address the severe shortage of skills in the country.
Hence, if you are a qualified Grade 12 or Matric student who needs financial assistance, you can apply for the South African Reserve Bank Bursary. Want to know more about this bursary? Our article will walk you through 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 South African Reserve Bank Bursary?
The South African Reserve Bank (SARB) Bursary is a complete financial aid programme designed to support academically strong South African students throughout their undergraduate studies. In other words, the SARB bursary offers financial support to students pursuing higher education in fields related to the SARB’s core functions.
Here, the functions of the South African Reserve Bank include financial stability and regulation, monetary policy formulation, currency management and more. As a result, this bursary offers funding to learners who undertake a field of study related to these functions of the South African Reserve Bank. That means this bursary ensures funding for programmes including but not limited to:
- Accounting
- Actuarial Science
- Economics
- Finance
- Information Technology
- Law
- Mathematical Statistics
- Dentistry
- Medicine
- Social Work
What Monthly Allowance Do SARB Bursary Beneficiaries Get?
Learners selected for the bursary programme from the South African Reserve Bankcan expect financial assistance. This financial support allows the students to completely put this focus into their studies without worrying about their financial burden. So, let’s explore the essential SARB Bursary monthly allowance students get. They are as follows:
-
Tuition fees:
The bursary programme from the South African Reserve Bank offers you full tuition fees for the academic year. Also, the tuition fees will be directly paid to the university.
-
Textbooks and study materials:
The bursary from SARB provides an allowance for textbooks and other learning materials so students can avoid paying high amounts for expensive study materials.
-
Monthly living allowance:
This bursary covers day-to-day expenses of students including clothing, toiletries and other personal care items.
-
Accommodation:
Based on a university’s policy and availability, the SARB bursary 2024 will also cover expenses for accommodation, including on-campus housing or private accommodations.
-
Meals:
The bursary also includes a stipend for meals, providing essential support to cover the cost of nourishment throughout the academic year.
-
Travelling allowance:
Another key allowance this bursary offers is the travelling allowance, which provides the learners with a bus ticket which can be used four times a year to travel between home and campus.
Essential SARB Bursary Requirements For Application Process
In order to get selected for the South African Reserve Bank, you must meet the minimum entry criteria. Besides, the selection committee will consider your candidacy after reviewing your academic potential and financial needs. For this, you will need to verify your application through documents. So, let us take you through key eligibility requirements and documents to submit for the SARB bursary application process.
Eligibility Requirements:
The following are the key criteria you should meet to be eligible for the bursary from SARB:
- Must be a South African citizen under 30 years of age
- Have completed Matric successfully or currently in Matric
- Intend to study full-time towards an undergraduate degree qualification in a relevant field at a recognised South African university.
- Have accepted or provisionally accepted to study at a recognised and accredited university in South Africa
- Have a minimum overall average of 70% for Matric/ Grade 12
- Must be in financial need where you are unable to afford to attend university without a bursary
Necessary Documents:
You must submit your essential documents along with your application form to the selection committee as you have to verify your application. Here are the key documents you need to present to get selected for the South African Reserve Bank bursary.
- Proof of South African citizenship
- Matric/Grade 12 result certificates
- Academic record
- University acceptance letter
- A motivational letter outlining your career goals and how the bursary aligns with them
- Proof of household income
- Letters of recommendation
Steps Involved in the SARB Bursary Online Application Process
To submit your application for the South African Reserve Bank bursary, you can do it in two ways:
- Apply online on the TTI Bursary platform, or
- Download the application form and submit your application along with supporting documents.
First, let us look at the steps to take for the online application process for this bursary:
- Visit the official website of TTI Bursary Management
- Click the ‘Apply Now’ that you can see on the top right corner of the website
- You will see the tab ‘South African Reserve Bank External Bursary.’
- Click ‘Read more’ given below the South African Reserve Bank External Bursary
- Below the South African Reserve Bank External Bursary page, you will see ‘Download PDF’ and ‘Apply Online.’
- Since you want to apply for the bursary online, click the ‘Apply Online.’
- First, you will see the Terms and Conditions. Read the instructions properly and check the box to accept the terms and conditions.
- Select ‘Next’
- Now, in the following phases, you can fill in your Personal Details, Contact Details, Parent/Guardian, Education And Qualifications information
- Submit the application
As we mentioned above, the second way is to download the application form from the ‘Download PDF’ tab and complete the application. Here, you can submit the application form with other necessary documents to the selection committee through the following:
- Post: Dimpho Nkoana POSTNET Suite 101 Private Bag X153 Bryanston 2021, or
- Email: sarbbursary@ttibursaries.co.za
When is the SARB Bursary Closing Date?
The closing date for the South African Reserve Bank Bursary is usually around the end of September. Therefore, this year, the closing date for submitting the bursary application is 30 September 2024. However, it is crucial for you to check the official website of SARB or TTI Management to get official dates and other updates.
Besides, you must ensure that you submit the application before the deadline to avoid the possibility of application cancellation or rejection. Hence, always make sure that you apply before the closing date to get your application considered. In case you miss the deadline this year, no worries. You have the opportunity to apply for this bursary next year. The application for the bursary from SARB will typically open in June of every year.
Conclusion
If you are academically talented and financially need help pursuing higher education, the South African Reserve Bank Bursary is a valuable opportunity. It covers your tuition, accommodation, textbooks, meals, and living expenses, ensuring you can focus entirely on your studies. However, you must meet eligibility criteria, prepare the necessary documents, and follow the application process carefully to enhance your chances of securing this bursary. In this article, we have mentioned all the necessary steps for you to apply for this bursary. So, don’t miss the chance to shape your academic future with the bursary from SARB.
Regenesys provides course quotations for aspiring students looking for bursaries in South Africa. Reach out to our career counsellors for comprehensive insights and personalised guidance today!
Frequently Asked Questions: SARB Bursary 2024
Q1) Who can apply for the South African Reserve Bank (SARB) Bursary?
South African citizens under 30 years of age, currently in Matric or completed it with a minimum overall average of 70%, intend to study full-time towards an undergraduate degree in a relevant field at a recognised South African university and demonstrate financial need can apply for the South African Reserve Bank (SARB) Bursary.
Q2) What does the SARB bursary cover?
The South African Reserve Bank Bursary covers full tuition fees, textbooks and other learning materials, monthly living allowance, accommodation, meals and travelling allowance.
Q3) How will I be notified if I am awarded the South African Reserve Bank (SARB) Bursary?
You will be notified via email or call a few weeks after the closing date. Therefore, ensure you provide accurate contact details in your application to receive timely notifications.
Q4)What is the selection process for the South African Reserve Bank (SARB) Bursary?
The selection process involves reviewing your academic performance, financial needs, and supporting documents. By assessing these, the selection committee can select the most deserving candidates.
Q5) When is the closing date for the South African Reserve Bank (SARB) Bursary application?
The closing date for the bursary from SARB is typically at the end of September. For SARB Bursary 2024, the submission deadline is 30 September.
