About FirstRand Foundation
FirstRand Foundation is the philanthropic arm of FirstRand Limited, the JSE-listed financial services group behind First National Bank (FNB), Rand Merchant Bank (RMB) and WesBank. Its education work runs mainly through the FirstRand Empowerment Foundation (FREF), which often works with partners such as StudyTrust and the Feenix crowdfunding platform. The group's aim is to widen access to quality education and ease South Africa's youth unemployment problem.
The Foundation does not run its bursaries as a recruitment tool for the bank. Instead, it treats them as grants that open doors for talented students who could not otherwise afford university. That makes FirstRand Foundation funding different from many corporate schemes tied to a single employer.
How FirstRand Foundation supports students
The main offering is the undergraduate bursary, which StudyTrust administers on behalf of FREF. It covers tuition, learning resources, accommodation, meals and a monthly stipend. First-year students also receive a computer. Because the bursary covers the full degree, recipients can focus on their studies rather than on money worries.
Beyond money, StudyTrust offers mentoring and academic support. Its GRAD programme helps students succeed at university, while GRADnext helps them move into working life. As a result, bursary holders get guidance as well as funding.
The Foundation also supports postgraduate study. Scholarships for Master's and PhD study at international universities are worth up to R1.5 million and R2 million respectively. In addition, the Foundation has funded honours-level bursaries. These awards are few, so competition is strong.
What to know before applying
The undergraduate bursary is open to Black South African citizens as defined in the B-BBEE Act. Applicants should come from households with a combined gross annual income of no more than R700,000. They also need a level 5 or higher in Grade 12 Mathematics. In general, they must be 21 or younger in their first year and be admitted to a public traditional university. Current Grade 12 learners may apply, as may those who finished matric within the past three years.
The funded fields cover areas such as commerce, engineering, natural and mathematical sciences, information sciences, agricultural and environmental sciences, health sciences, and some social sciences and law. However, the exact list of qualifying degrees can change from year to year.
Applications are made online through the StudyTrust platform. The window has usually run from June to the end of September, although you should confirm the dates for the current cycle. Incomplete applications do not move forward, so gather your documents early.
Published material does not describe a compulsory work-back period at FirstRand. However, the absence of such a clause in public terms is not a guarantee, so read any agreement you sign carefully.
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