"Project Zero has changed my life. I believe that the greatest barrier to tertiary studies is the financial one. The Project Zero bursary alleviates this problem so that I can actually get a degree. I'm ever grateful and will not forget how my life was sown into, I'd like to pay it forward one day,” says Liam Cloete, one of the 40 recipients of Project Zero bursaries in 2018.
The Faculty of Economic and Management Sciences' Project Zero initiative has received financial support to the tune of R6.2 million from the Banking Sector Education and Training Authority (BANKSETA). This is the second such investment from BANKSETA, after an initial R2.3 million was awarded in 2017. The 2017 investment opened the doors of higher education for 20 talented students and in 2018 a total of 40 students will benefit.
"Stellenbosch University was successfully granted R 5 844 120 00 for the funding support of 40 beneficiaries matching Project Zero selection criteria," said Mr Similo Dlamini, Manager of Work Intergrated Learning at BANKSETA.
A further R 292 206 00 was awarded to make sure that SU is able to provide the ideal support. "The support programme offered by Project Zero does not only deal with the funding needs, but also provides academic, career development, leadership, mentoring, life skills training, orientation/reflection sessions and psycho – social support that may be required by students. To support Stellenbosch University in this regard, BANKSETA released additional funds towards administrative costs," Dlamini explained.
The Project Zero initiative is aimed at reducing the cost of studying at SU to zero for talented students. Project Zero bursaries, along with the University's recruitment and merit bursaries, cover the student's full university account. Based on academic merit, the bursary is offered to black, coloured and Indian (BCI) students, half of whom come from communities with the lowest socio-economic status.
“In a large faculty like Economic and Managements Sciences, the overall financial need of our students is substantial. Most of the time, we feel overwhelmed by this reality. We are therefore extremely grateful for our partnership with BANKSETA, as this has made a huge difference to the sustainability of the Project Zero Fund,” says Mr MJ Brooks, Director of Faculty Management.
Another recipient, Reamohetse Muroa, said” If it was not for the Project Zero bursary, I was not going to be able to pay for my University fees and that means I would be at home. Thank you BANKSETA for supporting the Project Zero initiative. You have enabled me to be a bonafide university student who is studying towards her favourite degree.”
The first cohort of Project Zero bursary recipients started their undergraduate journey in January 2016. ”Project Zero students now have the opportunity to change their focus from surviving to thriving academically, and ultimately help to grow the scarce skills of the country,” adds Mr Brooks.
BANKSETA is a statutory body established through the Skills Development Act of 1998 to enable its stakeholders to advance the national and global position of the broader banking and micro-finance industry. As guided by its mandate, BANKSETA promotes employment equity and broad-based black economic empowerment through skills development and supports people development through partnerships, skills development, alleviating unemployment, creating a brighter future and enabling change.
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