Last Updated on August 24, 2023
NSFAS is a government entity under the Department of Higher Education and Training (DHET) established according to the NSFAS Act (Act 56 of 1999) to provide financial support to disadvantaged students who wish to further their studies at public universities or TVET colleges. It receives funds from the Government and then grants them to students. NSFAS application and registration opens in the later part of the year for students with the NSFAS closing date usually being in the next calendar year.
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What is NSFAS?
NSFAS is the National Student Financial Aid Scheme which is a government loan and bursary fund for students through the NSFAS funding. NSFAS application and registration opens in the later part of the year for students with the NSFAS closing date usually being in the next calendar year.
NSFAS provides bursaries to students from poor and working class backgrounds which goes beyond just paying for your fees. They’ll also pay for your registration, accommodation, transport, books through NSFAS allowances.
Funding is available for students at Universities, Universities of Technology or TVET Colleges.
NSFAS Application Requirements
The most important requirement for your NSFAS application form is that your household income should come to R350 000 or less per year. This means that if you add up everyone’s salaries in your house for the year and it comes to over R350 000, you won’t qualify. You have to be a South African citizen to qualify for the National Student Financial Aid Scheme NSFAS funding.
Usually, students and future students will submit their NSFAS online application for a NSFAS bursary using myNSFAS.
Careers Portal has everything you need to know about NSFAS, NSFAS applications and NSFAS allowances.
When you decide you want to make a NSFAS application you must have internet access to apply online. Before you apply online at NSFAS you will need to first create a myNSFAS account, which you can do by clicking here. Once your account is up and running you will follow the following steps.
- Click on the ‘APPLY’ tab and complete all the sections provided.
- You need to supply your own cellphone number
- Upload required documents where applicable
- And then you click submit
Supporting documents and information include:
- Certified copies of your South African ID or birth certificate
- a working cellphone number/contact details
- a statement providing proof of your financial eligibility (proof of income)
- your current email address
- your spouse’s ID (if applicable)
Once you completed all these steps, your application will be officially submitted. You must of course make sure you submit your application and supporting documents before the closing date.
What Does NSFAS Do?
NSFAS provides bursaries to prospective students from poor and working class backgrounds which goes beyond just paying for your fees. They’ll also pay for your registration, accommodation, transport, books through NSFAS allowances. Most courses at public TVET colleges are funded by NSFAS.
NSFAS Funding Requirements
So what are the requirements for NSFAS funding? Nsfas identifies eligible students based on the information you provide about you Matric results and your family’s income for the year.
The most important requirement for NSFAS funding is that your combined household income should come to R350 000 or less per year. This means that if you add up everyone’s salaries in your house for the year and it comes to over R350 000, you won’t qualify. If you are a student with a disability then this amount increases to R600 000 because NSFAS supports access to higher education for students with disabilities.
The government has said it aims to support all students from working class families who qualify to study further. Sassa grant recipients are automatically approved for NSFAS funding so it’s easier when you make a NSFAS application.
How To Submit A Request For Financial Aid To NSFAS
Usually, students and future students will submit their NSFAS online application for a NSFAS bursary using myNSFAS, which is the NSFAS website and student portal. You will also check your NSFAS application status on the MyNsfas online application portal. If you can’t track funding progress of your application online you can also contact NSFAS on their toll free number (08 000 67327) and they will be able to give our your NSFAS application status.
You should complete the online application form on the NSFAS portal and submit your supporting documents as soon as you decide that you want to study at a public university or TVET college. Don’t wait until you have been accepted, as that will be too late to go through the NSFAS funding process. NSFAS will cover registration and tuition fees – as well as an allowance.
Is NSFAS A Loan Or A Bursary?
Although you might have heard from other people that they have student loan repayments to NSFAS, things have changed. In previous years the National Student Financial Aid Scheme provided student loans that usually had to be paid back when the student graduated and started earning. All payments and financial aid these days to NSFAS beneficiaries are bursaries and don’t have to be paid back.
How Much Has NSFAS Paid Out In Financial Aid?
In August 2023 NSFAS management announced that a total of over R608 000 000 has now been made in NSFAS allowances to a total of almost 358 000 students at universities in South Africa using the new NSFAS direct payment system.
More than R600 000 000 was paid out to nearly 360 000 university students on 31 July 2023, while over 98 000 TVET College students received over R380 000 000 in student allowances on 25 July 2023.