Can nsfas stop funding a student

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Can nsfas stop funding a student

Can nsfas stop funding a student

NSFAS was established according to the National Student Financial Aid Scheme Act (Act 56 of 1999) and incorporated TEFSA (Tertiary Education Fund of South Africa). From 1993 to 2000, TEFSA was the primary non-profit company in terms of Section 21 of the Companies Act and ceased to operate in July 2000. All existing loans on the TEFSA books were transferred to NSFAS.

The NSFAS Act enables any student to apply for a bursary from NSFAS but allows the board to impose conditions, generally, or in respect of a particular loan or bursary. Such conditions include the use of the means test and the loan conversion of up to 40 per cent of any loan as an incentive for academic success.

Can nsfas stop funding a student

YES, NSFAS can stop funding a student, but there are many reasons which could lead to students losing their funding. Like any other established institution, NSFAS reserves the right to ensure that all applicants have used the right processes to apply. Read further for more.

NSFAS has established guidelines that state the terms and conditions that beneficiaries or applicants who seek funding is expected to follow.

The following are expected guidelines that each applicant should follow to be eligible for NSFAS funding:

  • Students must provide the correct information when applying for the NSFAS funding.
  • Students must meet the minimum requirements to study at a higher learning institution.
  • All applicants Must be South African citizens who show the need for NSFAS funding.
  • Students must pass at least 50% of their modules in a given academic year.
  • Students must take note of the N+ Rule meaning each student is given one extra year if they fail a course in a given academic year. It is also important to note that the N+ rule applies when a student registers at a public institution of higher learning and is funded by NSFAS.
  • Students must meet a minimum required standard of the institution in terms of their academic performance.

NSFAS verifies if the student qualifies for funding and the information given upon application for funding is correct beyond a reasonable doubt.

HOW AND WHERE TO APPLY
Step 1: Go to www.nsfas.org.za and click on the ‘myNSFAS’ tab
Step 2: Create a myNSFAS account
Step 3: Click on the ‘APPLY’ tab and answer the questions on the screen
Step 4: Upload the required supporting documents then click on ‘submit
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