How to Apply for the SAADP Bursary 2025

Pursuing a career in Actuarial Science can be a challenging yet rewarding journey. For many aspiring actuaries in South Africa, the financial burden of higher education can be a significant obstacle. Fortunately, the South African Actuaries Development Programme (SAADP) offers a lifeline through its comprehensive bursary programme. Established in 2003 to address the shortage of black actuarial professionals in the country, SAADP has supported over 200 graduates in achieving their dreams. This guide will provide you with all the necessary information on how to apply for the SAADP Bursary for the 2025 academic year, helping you take the first step towards a promising future in Actuarial Science.

About the Bursary Provider – SAADP

The South African Actuaries Development Programme (SAADP) was established in 2003 to address the shortage of black actuarial skills in the South African economy. As an independent, non-profit company, the SAADP has been pivotal in producing more than 200 Actuarial Science graduates. The program is supported by notable donors such as First Rand Foundation, Deloitte, Discovery, Insight, Sasria SOC Limited, Bankseta, and INSETA. SAADP’s core values include excellence, integrity, professionalism, transparency, and support.

About the SAADP Bursary Programme – Fields Covered

The SAADP is inviting applications for their 2025 bursary programme, targeting students pursuing an Actuarial Science qualification at one of the SAADP partner universities: University of Cape Town (UCT), University of Pretoria (UP), or University of the Witwatersrand (WITS).

Bursary Coverage and Renewal

The bursary covers:

Tuition fees
Textbook allowance
Residence fees
Meal allowance
Living allowance

Additional support includes:

Psychosocial Support: Mentorship from senior students and life skills programmes.
Academic Support: Supplementary tutorials, mentorship from top senior students, vacation work, actuarial seminars, academic workshops, and exam preparation sessions.

Bursaries are renewable each year based on academic performance and the availability of funds.

Selection Process

Step 1: Pre-screening

Applications are screened to ensure they meet basic requirements, including submission before the deadline, completion, and fulfillment of university requirements.

Step 2: Shortlisting

The Students’ Selection and Monitoring Committee screens applications, and shortlisted candidates are notified.

Step 3: Submission of Statements of Results

Matric students must submit their final matric results; failure to do so disqualifies them.

Step 4: Selection Interviews

Shortlisted matriculants will attend a selection interview, and current students will receive feedback from the SAADP.

Eligibility Requirements

For Matric/ Grade 12 Students

South African citizen
Black or Coloured
Currently in Matric
Achieve at least 80% in Mathematics, Physical Science, and English
Intent to study Actuarial Science in 2025 at UCT, UP, or WITS
Applied to study at one of the ASSA-accredited universities
Written or registered for the National Benchmark Test (NBT)
Access to the internet, active email, and cell phone number
Passion for pursuing Actuarial Science
From a financially needy family background

For University Students

South African citizen
Currently studying Actuarial Science
In 1st, 2nd, 3rd, or Honours year of study in 2024
Studying at one of the ASSA-accredited universities
Excellent academic results
Access to the internet, active email, and cell phone number
Passion for pursuing Actuarial Science
From a financially needy family background