Bursary Scheme for Students: The ACT Educational Trust is a charity that supports people in becoming treasury professionals. They offer educational resources and help, especially for students from developing countries who might face financial challenges with their studies.
The Trust provides bursaries, similar to scholarships, to lighten the financial load for these students. This support enables them to work towards an ACT qualification, acquiring the skills required for success in the treasury field. Through these efforts, the Trust plays a vital role in shaping the future of treasury, ensuring that talented individuals from diverse backgrounds can contribute to the global financial landscape.
Bursary Scheme
The Bursary is a fantastic program offering free financial assistance, up to £3,500 per year, to full-time undergraduates at Cambridge. Its purpose is to relieve the financial pressure of Cambridge fees and living costs.
Just like a scholarship or grant, the Bursary provides money that you don’t have to pay back. What’s even better is that it doesn’t matter what you’re studying or which college you’re at – everyone can apply, promoting inclusivity.
Different funding levels are available to meet the specific needs of various students. Medical students in their clinical years receive extra funding, recognizing the additional costs of their specialized training.
Independent students, including care leavers, also receive extra support, acknowledging the challenges they might face. Moreover, students who were eligible for free school meals during their earlier education receive increased funding, ensuring that financial issues don’t hinder their college journey.
In a nutshell, the Bursary program is all about fairness and making higher education accessible for everyone, regardless of their field of study, college affiliation, or personal circumstances.
By offering special support to different groups of students, the Bursary contributes to building a welcoming and supportive community at the university.
Bursary Scheme: Objective
The Goa government wants everyone to have a chance at good higher education. Even though the Right to Education Act mostly looks at primary and secondary schooling, the Government of Goa is determined to make sure higher and technical education is available to everyone in the state.
They want to raise the Gross Enrollment Ratio (GER) from 32.2 to 45, saying that higher education shouldn’t only be for a few people.
To make this happen, the government has a special plan. This plan is all about giving money to help with the fees of different higher and technical education courses. The main idea is to make sure people from all kinds of backgrounds can go for higher education without worrying about money, so it’s not something only rich people can afford.
By putting this plan in place, the government is taking a big step to make higher and technical education available to more people. This fits into their larger plan of having a well-educated and skilled community.
It’s not just about making education better; it’s also about being fair and letting more people have a chance at higher education. In simple terms, the government is actively dealing with the challenges in higher education, making education more equal and open for everyone in the community.
Bursary Scheme: Eligibility
The Bursary Scheme is available for candidates in the United Kingdom. To qualify for a bursary, you (or your parent or guardian) must meet one of the criteria outlined below and provide one piece of evidence to support your application.
If you are over 21 and are not currently enrolled in full-time education, we require documentation in your name as evidence.
| Eligibility Criteria | Evidence Required |
| Free School Meals | A recent letter (dated 2022 or 2023) from your school/college confirming you receive free school meals (Local Authority funded only). |
| 16 to 19 Bursary (England), or EMA (Scotland, Wales or NI) | Your official award letter or communication for academic year 2022/23 or 2023/24. We must be able to see your name and the date of the award. Evidence that relates to scholarships/bursaries at independent or fee-paying schools is not accepted. |
| Learner Support (FE 19+) or equivalent for Scotland, Wales or NI | Your official award letter for academic year 2022/23 or 2023/24. |
| Undergraduate Student Finance maintenance award (full rate) | Your award letter (all pages) for academic year 2022/23 or 2023/24. This includes a full rate (means-tested) undergraduate: Student Finance England Maintenance Grant/LoanStudent Awards Agency Scotland Young / Independent Students’ BursaryStudent Finance Wales or Northern Ireland Maintenance GrantCheck what qualifies as a full-rate maintenance award. Postgraduate loans are not accepted. |
| Universal Credit | The first page of your or your parent/guardian’s Universal Credit statement, dated within the last 3 months. We must be able to see the name and address of the claimant, the date, and the award amount. |
| Working or Child Tax Credit | The first page of your or your parent/guardian’s award letter for financial year 2022/23 or 2023/24. We must be able to see the name and address of the claimant and the date of the letter. |
| Income Support, or Job Seeker’s Allowance (JSA), or Employment and Support Allowance (ESA) | Your or your parent/guardian’s award letter (all pages) from the UK Jobcentre Plus, dated 2023. A parent/guardian in receipt of JSA or ESA must be entitled to the income-based benefit (e.g. means-tested) and not a contribution-based award. This is specified on the final page of the award letter. |
| Asylum Support | Your or your parent/guardian’s official award letter, dated in the last 12 months. |
Bursary Scheme: Application Process
Step 1: Start by creating a UCAT account. You need a candidate ID for your application. If you’re a returning candidate, use your existing candidate ID.
Step 2: Apply for a bursary and make sure to include the correct supporting evidence before 16:00 (BST) on September 29, 2023. It’s better to apply before booking your test, but if you’ve already paid for or taken your test, you can still apply.
Step 3: Expect to get your bursary voucher code by email within 3 business days. If you don’t hear back in this time (after checking junk/spam folders), email the UCAT Office.
Step 4: Use the bursary voucher code to book your test. During the booking checkout, there’s an option to ‘add a voucher or promo code.’
If you’ve already paid for your test, you can ask for a refund until 17:00 (BST) on October 16 by emailing Pearson VUE Customer Services and mentioning your voucher code.
Missed tests (no-shows) paid for by bursary voucher
If you miss a test, even if it’s covered by a bursary voucher, you’ll have to pay the test fee for a new appointment. We won’t give you another bursary voucher to cover this cost. Not having the right photo ID or missing the deadline to reschedule or cancel your test is considered a ‘no-show.’
If you’ve used a bursary voucher to book a test but decide not to take the UCAT, make sure to cancel your test in time.
If you miss a test (a ‘no-show’) paid for by a bursary voucher, UCAT will charge a fee. In these cases, UCAT has the right to ask you to repay the full test fee.
Results Delivery
When UCAT results are sent to our consortium universities, we include extra information about whether a candidate received a bursary.
It’s important to note that this won’t negatively impact your application; in fact, some universities may use this information to identify candidates from backgrounds that are typically underrepresented at the university level.
To ensure that your result is marked this way, be sure to use your bursary voucher before the deadline on October 16, 2023. This not only supports universities in their aim to be diverse and inclusive but also contributes to a better understanding of the candidate group.
It recognizes and values the diverse backgrounds and experiences individuals bring to the academic community. Therefore, it’s a good idea for candidates to take advantage of this opportunity by redeeming their bursary voucher on time, enhancing the inclusivity and richness of the university admissions process.
Bursary Scheme: TREASURY QUALIFICATIONS
We provide a bursary specifically designed for the Certificate in Treasury Fundamentals. This bursary encompasses:
- Online Learning Materials Fee:
- This covers the cost associated with accessing online learning materials, ensuring that students have the necessary resources for their studies.
- Student Membership Fee:
- The bursary includes coverage for the student membership fee, enabling students to engage with the community and resources related to the field of treasury.
- Assessment Fee:
- The bursary also extends to cover the assessment fee, encompassing the expenses for your first exam sitting and one re-sit if needed. This support ensures that financial constraints do not hinder your progress in achieving the Certificate in Treasury Fundamentals.
Upon successfully completing the Certificate in Treasury Fundamentals, students become eligible to apply for a bursary that spans the Certificate in Treasury and the Diploma in Treasury Management.
This demonstrates our commitment to supporting the educational journey of students pursuing qualifications in treasury, fostering their professional development without the burden of financial constraints.
Bursary Scheme: CASH QUALIFICATIONS
If your focus leans more towards cash management, you might find the Award in International Cash Management to be of particular interest.
The bursary for the Award in International Cash Management includes coverage for:
- Online Learning Materials Fee:
- This covers the cost of accessing online learning materials, ensuring that you have the necessary resources for an enriching educational experience.
- Student Membership Fee:
- The bursary encompasses the student membership fee, providing you with access to relevant communities and resources in the field of international cash management.
- Assessment Fee:
- Additionally, the bursary extends support for the assessment fee, covering expenses for your first exam sitting and one re-sit if needed. This ensures that financial considerations do not hinder your progress in obtaining the Award in International Cash Management.
This bursary reflects our commitment to facilitating your educational journey, making quality learning materials, membership benefits, and assessment opportunities accessible as you pursue expertise in the specific domain of cash management.
Bursary Scheme: SELECTION PROCEDURE
Bursary awards depend on availability and the information in your application. The ACT Educational Trust decides on awards at their discretion.
Keep in mind that each application round has a set budget. If we get more applications than the budget allows, we’ll give bursaries on a first-come, first-served basis, as long as applicants meet the eligibility criteria.
Starting October 2021, if you’re not successful, you have the option of a partial bursary. This means you pay for your first examination upon enrollment. For CertTF, it’s one examination; for CertT, it’s five, and so on for other qualifications. You can choose the partial bursary or wait for the next application window.
Expect a brief, 15-minute virtual meeting with an ACT member within two weeks of the application deadline. It’s informal and a chance to talk about the qualification you’re applying for and ask questions about the ACT bursary and qualifications, typically using Microsoft Teams.
We’ll notify you of the application outcome via email within four weeks of the deadline.
Bursary Scheme: EMPLOYMENT DECLARATION
Take a moment to fill out the attached employment declaration form. If you’re currently employed, ask your line manager to complete Section A, confirming that company sponsorship isn’t available. If you’re currently unemployed, complete Section B.
As part of the application, confirm that you’re not pursuing another qualification simultaneously. This ensures your full focus on the ACT’s qualification program.
Your honesty on this form is crucial for an accurate assessment of your eligibility. If you have questions or need help with the form, reach out to our support team. Thank you for your cooperation.
What happens next?
Your college will send you a written confirmation of your approved bursary and the amount you’ll receive. If you applied for student finance more than six weeks before your course starts, your college aims to share the bursary details in the first week of the term.
This applies to EU students as well. This early notification ensures you have clear and timely information about your bursary, making it easier for you to plan and manage your finances as you start your academic journey.
If you have any questions or concerns about your bursary, don’t hesitate to contact your college’s financial aid office for assistance and clarification.
Payment dates
The timing of your bursary payment is contingent upon when you apply for a student loan and when your college confirms your enrollment to the university. The earliest times it might show up are:
- Date of Michaelmas Term: October 23, 2023
- Term of Lent: February 5, 2024
- Easter Week: May 13, 2024
Your regional funding authority will pay your bursary immediately into your UK bank account.
Number of Beneficiaries and Amount Disbursed
| Academic Year | Financial Year | Total No. of Applications Received (Fresh cases) | Total No of Candidates found Eligible | Fresh Cases (Merit List) | Renewal Cases | Total No of Candidates actually granted Scholarship (including Renewal Cases) | Total Amount Disbursed (in Rupees) | |
|---|---|---|---|---|---|---|---|---|
| Boys | Girls | |||||||
| 2015-16 | 2016-17 | 6063 | 5823 | 5500 | 5573 | 5581 | 5492 | 28,57,18,211 |
| 2016-17 | 2017-18 | 5683 | 5348 | 5242 | 6068 | 5598 | 5712 | 29,15,58,030 |
| 2017-18 | 2018-19 | 5957 | 5600 | 5452 | 7798 | 6636 | 6614 | 34,21,96,840 |
| 2018-19 | 2019-20 | 5449 | 5028 | 5028 | 9260 | 7046 | 7242 | 40,15,87,204 |
| 2019-20 | 2020-21 | 5923 | 5611 | 5500 | 5128 | 5185 | 5443 | 35,29,71,626 |
| 2020-21 | 2021-22 | 5885 | 5552 | 5489 | 10464 | 8061 | 7892 | 53,23,59,623 |