The FASSET Bursary Program 2024: A Guide for Aspiring Finance & Accounting Students
Are you passionate about pursuing a career in finance, accounting, audit, tax or related fields? The FASSET bursary program offers crucial funding and support to empower your journey.
FASSET, the Finance and Accounting Services Sector Education and Training Authority, provides skills development for South Africa’s finance industry. Their bursary scheme aims to grow top talent and leadership for this vital economic sector.
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In this comprehensive guide, we’ll explore all about the FASSET bursary for 2024 intake, including:
- Overview of FASSET
- Details of the bursary program
- Eligibility criteria
- Application process and timeline
- Program benefits
- Application tips
- Additional bursary options
Let’s get started!
Introduction to FASSET
Established in 1999, FASSET is the Sector Education and Training Authority (SETA) for the finance, accounting, management consulting and other financial services sector in South Africa.
As an authority mandated with skills development for the sector, FASSET pursues initiatives including learnerships, internships, qualifications development and bursary funding.
The FASSET bursary program aims to grow top talent and leadership for its stakeholder industries including banking, insurance, investment management and more.
Details of the FASSET Bursary Program
FASSET offers two main bursary funding routes:
Full Bursary
Aims to assist current undergraduate students in their penultimate or final year of study who demonstrate financial need.
Outstanding Study Debt Repayment Bursary
Aims to assist unemployed graduates who have completed their finance/accounting-related degrees but require help settling outstanding study debts to receive their qualifications.
Both routes provide comprehensive funding and support.
FASSET Bursary Eligibility Criteria
To qualify for FASSET bursary funding, applicants must meet the following criteria:
- South African citizenship
- Studying toward an undergraduate degree related to finance, accounting, business management, IT (accounting systems) or other approved programs
- In penultimate or final year for Full Bursary; completed studies for Debt Repayment Bursary
- Achieved minimum 65% average for preceding year of study
- Demonstrate financial need (household income between R123,000-R600,000 p/a)
- Enrolled or intend to enroll at an accredited South African public university or TVET college
Meeting these requirements makes your bursary application competitive.
How to Apply for the FASSET Bursary
Application Timeline
FASSET accepts bursary applications throughout the year rather than specified windows. However, it is advisable to apply as early as possible.
Application Process
To apply:
- Visit the FASSET website Bursary section
- Download the relevant application form
- Carefully review the application guide
- Complete all sections of the form accurately
- Attach required supporting documentation
- Submit online or via mail as outlined in the guide
Be thorough in your application and follow all instructions to avoid disqualification.
Bursary Program Benefits
The FASSET bursary program provides:
- Full coverage of all tuition, registration, exam and related academic expenses
- Allowances for learning materials, computer equipment, transport and accommodation
- Monthly stipend for meals and incidentals
- Mentorship opportunities in the finance and accounting sector
- Access to internships with FASSET partner organizations
- Potential employment placement upon graduation
This enables students to wholly focus on their studies and graduate work-ready.
Application Tips
Follow these suggestions to create a strong bursary application:
- Carefully review the guide so you meet all eligibility criteria.
- Highlight your relevant academic achievements and grades.
- Clearly articulate your career goals and interest in the finance/accounting sector.
- Express your financial need and how the bursary will enable your studies.
- Pay attention to detail and proofread before submitting.
Thorough preparation is key to a successful bursary application.
Additional Bursary Options from FASSET
Alongside the Full Bursary and Debt Repayment Bursary, FASSET also offers:
- TVET Bursary – for students pursuing finance/accounting-related vocational programs at TVET Colleges
- Students with Disabilities Bursary – targeted funding for students with disabilities studying in FASSET fields
So explore all bursary routes if you require financial assistance for your studies.
Conclusion
The FASSET bursary program enables high-potential youth to access fully funded education in finance, accounting and associated fields of study.
This serves the dual benefit of growing top talent for the sector while enabling social mobility for disadvantaged students.
I encourage all eligible students to take advantage of this amazing opportunity. Please reach out if any questions arise!
Frequently Asked Questions
Here are some common queries about the FASSET bursary:
What documents must I submit with my application?
As outlined in the guide, your ID, academic records, income statements, proof of admission, and other supporting docs.
How soon after applying will I receive a response?
FASSET aims to respond with outcomes within 2 months of receiving your complete application. Follow up if it has been longer.
Can I hold another bursary along with FASSET funding?
Unfortunately, you cannot hold multiple state-funded bursaries concurrently.
What is the service obligation after graduating?
There is no service obligation. However, you may receive internship and employment opportunities.
Can current first year students apply for the bursary?
No, the Full Bursary is only for students already in their penultimate or final year of studies.
Let me know if you have any other questions!