How does nsfas pay registration fee

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How does nsfas pay registration fee

How does nsfas pay registration fee

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.

Financial Aid
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.

How does nsfas pay registration fee
NSFAS allowances will be paid in cash to the student via the Fundi system. Once the allowances are debited to your student class fee account, you will receive an SMS message from Fundi to upload your banking details. Fundi will confirm your banking details and payment will follow.

How much nsfas registration fees

The bursaries not only cover registration and tuition fees but also make provision for other annual allowances.  In 2021, these allowances amount to:

  • An Accommodation allowance depending on what is charged by the college or university (private accommodation costs cannot exceed costs of halls of residence or institution-provided hostels).
  1. A book allowance of R5,200.
  2. A living allowance of R15,000.
  3. A personal care allowance of R2,900.
  • A Transport allowance of R7,500 (no further than 40km from the place of study).

Who qualifies to apply?

In order to apply for NSFAS online for 2022, you must be a South African citizen, have been accepted for an undergraduate qualification for the first time, and be able to prove an annual household income of no more than R350,000. It should be noted that meeting these criteria is not a guarantee of being accepted for the NSFAS.

 

How to Apply for NSFAS Online 2022

If you would like to apply for NSFAS 2022, follow the steps outlined below:

  1. You have to visit the NSFAS website: www.nsfas.org.za online
  2. Then, you have to click on the “myNSFAS” tab
  3. After that, you create your myNSFAS account
  4. After creating myNSFAS account, you then have to click on the “Apply” tab
  5. Answer the following questions you see on your screen
  6. Update all your personal information
  7. Upload all the required supporting documents
  8. Lastly, Click on “Submit” to send your application for review.

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