Financial Sector Conduct Authority, or FSCA, is a regulator for the financial institutions in South Africa. It regulates and supervises the industry and helps set the rules for companies offering financial products and services in the country. Formerly, it was known as the Financial Services Board (FSB) and later changed to FSCA in 2018.
The FSCA acts in the customers’ interest and ensures they are treated fairly by the financial companies. Because of the policies developed by FSCA, both the finance companies and South Africans enjoy a stable financial system.
FSCA has been offering financial assistance to students who need them in the form of bursaries. Known as the FSCA Bursary, it is meant for students pursuing their education in actuarial sciences.
For the academic session 2022, students who are studying actuarial sciences at the following universities will be considered for this bursary:
University of Witwatersrand
University of Pretoria
Any student who is enrolled for academic years 2022-2025 can apply for the bursaries. Bursars will get coverage for the following expenses:
Along with that, students will also receive a laptop, free internet access, and a monthly allowance depending on their needs.
As part of the agreement, bursars will be required to participate in the vacation learning programmes held during university breaks. This is for a minimum of 4 weeks per year.
Also, the bursars will have to sign a work-back contract. They’d have to agree to work for FSCA for a period equal to the duration of funding received. Some students may even get permanent employment offers from the organization.
FSCA Bursary is a merit-based bursary programme, and students will be selected based on their Matric final scores.
To select candidates for the bursary, FSCA has laid out specific eligibility guidelines. Anyone applying for the bursary must fulfill all the criteria to receive the funding. Failing to do so will result in cancellation of the application. Therefore, always cross-check before applying.
The eligibility requirements for the FSCA bursary 2022 are:
Must be a South African citizen
Must be currently in Matric
Must be willing to take up an Actuarial Science course starting from 2022 up until 2025
Must be willing to study at either University of Witwatersrand or the University of Pretoria
Must have achieved at least an “A” for Mathematics in Matric
Must belong to a previously disadvantaged background
Must be in need of proven financial assistance
Fulfilling all the requirements, however, does not guarantee funding. It’s a merit-based programme, and the meritorious students will be awarded first. The list published by FSCA will be considered final.
How to Apply?
Eligible students should move forward with the application process. It’s an online-only process, and you’d have to submit your application online. It’s a short process that should take no more than an hour to complete. But it’s essential to be diligent and take your own time. Here are the steps involved in applying for the FSCA study bursary 2022:
The first step is to complete and submit the online application form required for this bursary. You’d have to create an account with the FSCA. So visit the official bursary page and click on “Apply” to get started. Provide your personal, academic, and other details to complete your profile. After reviewing it, move on to the next step.
In the next step, you’d have to submit the documents needed for this bursary. These are used for verification purposes. Here’s are the documents you need to prepare:
ID documents (certified copies only)
Matric mid-year or latest results (certified copies only)
A motivation letter supporting your application
Proof of application for the actuarial programme at UP or WITS
Scan and save the documents in PDF format. Then upload them to the portal and send them along with your application.
You’ll hear back from FSCA within a few weeks after the closing date.
The FSCA bursary is currently open, and the last date to apply for it is 31 October 2021.
For additional queries, you can get in touch with the FSCA administrators at [email protected]
If the bursary has already been closed, you are requested not to contact The Financial Sector Conduct Authority (FSCA). View our other bursaries open for application here: https://allbursaries.co.za/notice/
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