What Sanlam Is Actually Offering
Let's be clear — this is not just a fee payment. Sanlam is offering a full package that goes well beyond tuition. Here's what bursary holders get:
Tuition and accommodation fees covered
General allowance for books and pocket money
Mentorship from qualified Sanlam actuaries (not just money — actual career guidance)
Vacation work and networking opportunities with Sanlam staff during holidays
Work rotation across different departments and disciplines
Actuarial board exam support — they pay your professional exam fees even after you graduate
Guaranteed employment after completing your studies
That last point is the one most students sleep on. Sanlam is not just funding your degree — they are essentially hiring you before you even finish. That is rare in today's market.
Is Sanlam Actuarial Busary Right for You?
Apply if you are:
A current Actuarial Science student (1st, 2nd, or 3rd year)
You must be a full-time student at a South African university
You must be a South African citizen (no permanent residents mentioned)
You need to show strong academic performance — they want demonstrated ability, not just potential
A Grade 12 learner planning to study Actuarial Science in 2027
You need above 90% in Mathematics — this is non-negotiable
Your overall results must be an A aggregate
Final Grade 12 results can be used as a deciding factor, so this year's exams matter
Do not waste your time applying if:
Your Maths mark is below 90% — Sanlam is very specific about this bar
You are not a South African citizen
You are already in your 4th year or postgraduate study (this bursary targets years 1–3)
You are interested in a different field and thinking of switching to Actuarial Science "just for the bursary" — they will see through it in the motivation letter
You are hoping to apply via email or submit documents late — they explicitly reject both
Tips Nobody Tells You
1: Treat the motivation letter like a mini-interview
Sanlam gives you five specific questions to answer in your motivation letter. Most applicants write one or two paragraphs that vaguely cover all five. Do not do that. Answer each question separately and clearly. For the question "Describe what an actuary does" — go beyond textbook definitions. Mention risk modelling, financial forecasting, and how actuaries sit at the intersection of mathematics and business decision-making. Show that you actually understand the profession, not just the degree.
2: Your CV should tell a leadership story, not a results story
Yes, your grades matter — but your CV section on extra-murals and leadership is what separates two candidates with similar grades. If you were a class representative, tutored other students, led a school club, or organised anything in your community, it goes on that CV. Sanlam builds actuaries who will eventually lead teams and advise executives. They want to see early signs of that leadership DNA, even from a matric student.
3: Apply early — don't wait for June
Application opens 1 February and closes 30 June. Many students treat June 30th as the target date. That is a mistake. Bursary reviewers usually begin shortlisting well before the deadline, and early applicants sometimes get a longer review window. Aim to submit by end of April with a complete, polished application. Give yourself time to fix any document errors too — a missing proof of registration has ended many strong applications.
Why This Bursary Hits Different Right Now
South Africa currently has one of the most severe shortages of qualified actuaries on the African continent. The Actuarial Society of South Africa estimates that demand for actuarial skills is growing faster than universities are producing graduates and with the African insurance and fintech sectors expanding rapidly, that gap is only widening.
What that means for you practically: an Actuarial Science degree from a reputable SA university, backed by a Sanlam bursary and work rotation experience, positions you not just for a local career — but for roles across the continent and internationally.
The guaranteed employment clause is also significant given current youth unemployment rates in South Africa. You are not gambling on the job market. You are graduating into a confirmed role at one of Africa's largest financial services groups — a company with over 100 years in operation and a market presence across multiple African countries.
This is one of the few bursaries where the return on your application effort is measurably high. The bar is tough — but so is the reward.
How to Apply
Scroll down and click on the Apply Button
Complete the online application form
Upload all required documents (see checklist below)
Submit before 30 June 2026
Document Checklist
For current undergraduate students:
Full academic transcripts
Proof of registration and/or fee statement
Copy of matric certificate
Copy of ID
Comprehensive CV (academics, extra-murals, leadership)
Motivation letter answering all five questions
For matric learners applying for 2027:
Final Grade 11 results
Grade 12 mid-year 2026 results
NBT results (if available)
Above 90% Maths and overall A aggregate required
Comprehensive CV (academics, extra-murals, leadership)
Motivation letter answering all five questions
Closing date: 30 June 2026. No late or email applications accepted. No response by 1 October 2026 means unsuccessful.