Comprehensive Guide to FASSET Bursary Benefits
The FASSET bursary program offers comprehensive support to empower recipients and enable their academic and career success in finance and accounting fields. This guide provides a detailed breakdown of the wide range of benefits you can expect from a FASSET bursary.
Introduction to FASSET Bursaries
First, let’s understand what FASSET bursaries are all about.
FASSET or the Finance and Accounting Services Sector Education and Training Authority is one of the SETAs (Sector Education and Training Authorities) in South Africa.
Their mission is to promote skills development in the finance and accounting services sector through learning programs and collaborating with employers.
To support this mission, FASSET offers bursaries to high-potential students looking to pursue qualifications and careers in fields like:
- Accounting
- Taxation
- Auditing
- Financial Management
- Finance and Investment
- Business Management
These bursaries aim to not just assist financially but also provide additional benefits to set up students for success.
FASSET offers bursaries across various qualification levels:
- Undergraduate: Diploma or degree qualification
- Honours: Postgraduate honours qualification
- Master’s & PhD: Postgraduate research degrees
- Professional Qualifications: Like ACCA, SAICA, CIMA
Now let’s look at the wide range of benefits you can obtain from a FASSET bursary.
Financial Support
The core benefit of the FASSET bursary is comprehensive financial support for your studies. This includes:
Full Tuition Fees
The bursary covers your entire tuition fees for the qualification you are pursuing. This is perhaps the most vital component, as tuition is often the biggest cost barrier for students.
Whether you are studying a 3-year BCom degree or a postgraduate masters program, your tuition fees are fully covered.
Accommodation Allowance
Finding suitable and affordable student accommodation is crucial but challenging. To assist with this, FASSET provides an accommodation allowance as part of the bursary.
This monthly stipend allows you to cover rental costs for your accommodation near campus. The allowance amount would be clearly specified in your bursary offer letter.
Meal Allowance
Another regular allowance provided is for food and meals. This ensures you have sufficient nutrition through the month to stay healthy and focus on academics.
Books & Study Materials
Textbooks, software, stationery and other essential materials for your course can be expensive. So FASSET bursaries cover these study-related costs too.
This means you won’t have to worry about affording expensive prescribed textbooks each semester.
Data & Technology Allowance
To facilitate online learning and research, some FASSET bursaries also offer a data and technology allowance.
This monthly stipend contributes towards costs of internet connectivity and devices like laptops.
Travel & Transport Allowance
If your accommodation is not within walking distance from campus, the bursary may provide a transport stipend. This contributes towards daily commute expenses like bus/taxi fare.
The ability to commute without financial limitation enables easier access to lectures, libraries, study groups etc.
As you can see, FASSET bursaries ease most major financial burdens students face during tertiary education. This enables you to fully focus on your academics.
Additional Benefits
Aside from the extensive financial support, FASSET bursaries also offer recipients several added benefits:
Industry Mentorship
FASSET has corporate partnerships with various finance and accounting companies. Through these partnerships, bursary recipients are assigned industry mentors.
These are professionals from the sector who offer guidance, networking opportunities, and insight into the industry. Interacting with your mentor can give you a valuable headstart in your career.
Internship Opportunities
FASSET collaborates with employers to facilitate internship opportunities for bursary recipients.
These internships provide first-hand professional experience in finance, accounting, auditing, and related domains. This helps strengthen your practical knowledge and employability.
Career Guidance & Support
The bursary program also offers extensive career guidance and support through FASSET’s team of program officers.
They provide advice on planning your career path, choosing focus areas, shaping your CV, interview preparation, and more.
Networking & Events
FASSET organizes various events, seminars, competitions etc exclusively for bursary recipients. These serve as networking and development platforms.
Through such events, you can connect with fellow recipients, industry experts, potential employers and build your professional network.
Leadership Development
Some FASSET bursaries have structured leadership development components as well.
These provide training in skills like communication, critical thinking, problem-solving – helping shape you into a well-rounded leader.
As you can see, FASSET bursaries go beyond just financial support and truly empower recipients to succeed in their studies and future careers.
Bursary Benefits by Qualification Level
While the core benefits are consistent across programs, some specific offerings may vary by the qualification level:
Undergraduate Bursaries
For diploma and degree studies, the bursary typically covers:
- Full tuition fees
- Accommodation allowance
- Meal allowance
- Book allowance
- Mentorship
Honours Bursaries
For honours qualifications, the bursary adds:
- International study tour
- Data allowance
- Career guidance
Master’s & PhD Bursaries
For postgraduate degrees, the bursary may also include:
- Conference/workshop attendance
- Research funding
- Internship placement
Professional Qualifications
For qualifications like ACCA or SAICA, you get:
- Exam registration fees
- Exam preparation workshops
- Data and tech allowance
So the offerings are tailored to support your needs at each stage of your academic journey.
How to Learn More About FASSET Bursaries
If you want to explore FASSET bursaries further, here are helpful resources:
- FASSET Website: Visit www.fasset.org.za for details on bursary schemes.
- Learner Portal: Register on the portal to get personalized information.
- CareerWise Website: Find FASSET bursaries listed on www.careerwise.co.za.
- Bursary Directory: Sites like Bursaries24 list all FASSET bursaries.
- FASSET Social Media: Follow @FASSETSA on Facebook, Instagram, Twitter, YouTube for updates.
- FASSET Email: Email [email protected] with specific questions.
- FASSET Phone: Call 011 476 8570 for bursary inquiries.
I hope this guide summarizes all the key benefits you stand to gain from the FASSET bursary!
SEE Check Fasset Bursary Status 2024: Easy Steps and Updates
Conclusion
- The FASSET bursary provides comprehensive financial support including full tuition fees, allowances for meals, accommodation, books, and more.
- Recipients also gain added benefits like industry mentorship, internships, career guidance, networking opportunities and leadership development.
- Benefits are tailored by qualification level, with postgraduate bursaries including extra offerings like research funding and conference attendance.
- Learning about the full range of bursary benefits can help you make an informed decision about applying.
FAQs
What are the eligibility criteria to qualify for a FASSET bursary?
The main eligibility criteria are being a South African citizen, meeting academic requirements, and pursuing studies in a finance, accounting or business-related field at an accredited institution. Preference is given to designated groups like black African and female students.
Can I hold other bursaries/loans along with the FASSET bursary?
Yes, you can hold additional funding along with a FASSET bursary. However, you are required to disclose details of any other funding received. FASSET may then adjust their award amounts accordingly.
How do I apply for a FASSET bursary?
Applications open around May-June each year. You submit the online application form on the FASSET Learner Portal along with supporting documents like your ID, academic records and acceptance letter.
What happens if I fail to complete my qualification? Do I need to repay the bursary?
If you fail to meet the minimum academic requirements or drop out, you may need to repay the bursary funds. Unless there are valid reasons like medical conditions that prevented completion.
How long does the FASSET bursary funding last?
FASSET will provide the bursary funding for the standard registered duration of your qualification, subject to you meeting academic performance criteria. So for a 3-year BCom degree, funding is for 3 years.
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