The National Student Financial Aid Scheme (NSFAS) is a government-funded organization that provides financial assistance to students from low-income households to pursue their studies at public universities and Technical and Vocational Education and Training (TVET) colleges.
NSFAS offers both loans and grants to eligible students, helping to make higher education more accessible and affordable.
How Does NSFAS Pay Allowances?
NSFAS pays allowances directly to students who have been approved for funding.
The allowance is intended to cover living expenses, such as accommodation, food, and transportation, while the student is pursuing their studies.
What Does it Mean to be Provisionally Funded by NSFAS?
Being provisionally funded by NSFAS means that a student’s application has been approved, but the funding is subject to certain conditions being met.
This may include providing additional documentation or meeting specific academic requirements.
What is the N+2 Rule for NSFAS?
The N+2 rule is a funding rule that determines the duration of NSFAS funding.
It means that a student can receive funding for a maximum of two years more than the normal duration of their qualification.
For example, if a student is studying for a three-year degree, they can receive funding for up to five years.
Does NSFAS Affect R350?
NSFAS funding does not directly affect the R350 Social Relief of Distress grant.
However, students who are recipients of the R350 grant may still be eligible for NSFAS funding, depending on their individual circumstances.
How Much Does NSFAS Give Students Per Month?
The amount of funding provided by NSFAS varies depending on the student’s individual circumstances and the type of funding they are eligible for.
NSFAS provides a comprehensive funding package that includes allowances for living expenses, tuition fees, and other study-related costs.
NSFAS Loan and Grant Structure Explained
NSFAS offers both loans and grants to eligible students.
A loan is a type of funding that must be repaid, usually after the student completes their studies and starts earning a salary.
A grant, on the other hand, is a type of funding that does not need to be repaid.
NSFAS Student Loan Guidelines
To apply for an NSFAS loan, students must meet certain eligibility criteria, including:
- Annual household income between R350,000 and R600,000
- Accepted to study at either a TVET college or public university for under- or postgraduate studies
- Can apply in years 1, 2, 3, or 4
- Must sign a loan agreement if they qualify for a loan
- A completed Consent Form is a mandatory requirement for a loan application
Applicants who have been rejected for a 2024 bursary based on a household income exceeding R350,000 may pre-qualify for a loan if their family income is less than R600,000.
Students who already applied for the NSFAS bursary scheme do not need to submit a new application for the student loan scheme.
NSFAS Online Application
To apply for NSFAS funding, students can submit an online application through the NSFAS website.
The application process typically opens in August of each year, and students are advised to apply as soon as possible to ensure timely processing of their application.
NSFAS Contact Details
For more information about NSFAS funding or to apply for funding, please contact:
National Student Financial Aid Scheme (NSFAS)
Tel: 0860 067 327
Email: info@nsfas.org.za
- WhatsApp: +27 63 093 5671
- Office Address: The Halyard, 4 Christiaan Barnard St, Cape Town City Centre, Cape Town, 8001