Student Bursary Proposal

Dear Colleagues,

At the 2014 AGM the Executive received a mandate from the membership to explore the design and establishment of a bursary to support students in need. As the events of early 2015 reinforced, financial support for students is an ongoing issue affecting accessibility to Higher Education in South Africa.  As those deeply committed to the academic project, we know the impact of a University degree on the transformation of individuals and society more broadly.

In this vein, the ASAWU Executive has considered this issue and would like to propose the establishment of the Wits Academic Staff Student Bursary.  The funds will go to students who demonstrate financial need in covering academic fees.   The plan is to create an endowment over the next 5 years through monthly contributions from Wits Academics that will be donated to the University. ASAWU will not be involved in the administration of the fund, rather Wits Student Financial Aid structures will administer.

We request that you indicate your desire to pursue such an endeavor and to recommend the best course of action through the following link. We have laid out a series of Scenarios below and request that you choose one of them.

Should Members wish to pursue this idea, the ASAWU Executive has endorsed Scenario 4 as it is viewed as affordable and least impactful on the reserves of the organization – but we encourage you to select on the basis of your preference.

CLICK HERE TO VOTE

STUDENT BURSARY PROPOSAL SCENARIOS

Scenario 1

  • ASAWU reserves contribution (one time cost) – R275,000.
  • Member bursary contribution –R25/month (R300/annum)
  • Total ASAWU fees incl. contribution to bursary = R75/month
  • Total Endowment after 5 years = R 1 400 000

Scenario 2

  • ASAWU reserve contribution (one time cost)  – R125,000.
  • Member bursary contribution – R30/month (R360/annum)
  • Total ASAWU fees incl. contribution to bursary = R80/month
  • Total endowment after 5 years R 1 475 000

Scenario 3

  • ASAWU reserves contribution (one time cost)  – R200,000.
  • Member bursary contribution – R30/month (R360/annum)
  • Total ASAWU fees incl. contribution to bursary = R80/month
  • Total endowment after 5 years R 1 550 000

Scenario 4 (ASAWU Exec Endorsed)

  • ASAWU reserve contribution (one time cost)  – R 0
  • Member bursary contribution – R35/month  (420/annum)
  • Total ASAWU fees incl. contribution to bursary = R85/month
  • Total endowment after 5 years R 1 575 000

CLICK HERE TO VOTE

 

ASAWU Executive

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