The Reserve Bank is looking for up to 35 matrics to receive bursaries worth R121,000 per year and then possibly get jobs – here is how to apply now
- The SA Reserve Bank's bursary scheme is now open for applications from matrics who do well in their mid-year exams, and think they can keep it up.
- The SARB will pay up to R121,000 per year for tertiary studies in certain fields, covering accommodation too.
- The deal also comes with a potential job.
- For more stories, go to www.businessinsider.co.za.
Applications are now open for one of South Africa's most desirable bursary schemes: the R121,000 per year, full-ride SA Reserve Bank (SARB) tertiary bursary.
The SARB is looking for students in a wide range of disciplines it defines as anything that has "a bearing on, and be applicable to, the functions and activities of the Bank". As examples it includes law, accounting, finance, IT, economics, actuarial science and mathematical statistics.
Students accepted into the scheme will be fully funded, including for their accommodation and sundry expenses, up to a maximum of R121,000 per year. In return they must be willing to work for the Bank on a first-right-of-refusal basis; if offered a job and they turn it down, they will have to repay the cost of the bursary.
See also: This is how much you need to score in matric to get big bursaries from SA’s top universities
The 2020 intake will be no more than 35 students, the SARB told Business Insider South Africa.
There are currently 79 students at various level of study in the scheme.
The bursary is open only to South African students who would not otherwise have the means to attend university.
Matrics must obtain a 70% average mark in the their June Grade 12 examinations to be considered, and must maintain that standard in their final exams.
How to apply
- Details of the bursary scheme are available on Reserve Bank website.
- Current Grade 12 pupils now have until 30 September to apply via the Careerwise platform, using the identifier "SARB2020".
- Applicants must submit standard documents, including an ID book and exam results – and a 250-word essay motivating their application.
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