How often nsfas pay for college students

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How often nsfas pay for college students

How often nsfas pay for college students

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.

What the bursary covers

  • Accommodation in an urban area is R24,000 per annum
  • Accommodation in a peri-urban area is R18,900 per annum
  • Accommodation in a rural area is R15,750 per annum
  • Transport (up to 40 km from the institution) R7,350  per annum
  • Transport R7000 per annum
  • Incidental/personal care allowance R2900 per annum

NSFAS Allowance Amount

NSFS ALLOWANCE CATEGORY ANNUAL AMOUNT SELF-CATERED/CATERED RES
Study Materials (Once Off) R5,200 R5,200
Accommodation (Max) R5,617 (Private)
Living Allowance R15,000 R1,500
Incidental Allowance R2,900 R290
Travel R7,500 R750 (Home)
Who qualifies for NSFAS funding?
  • All South African citizens
  • All SASSA grant recipients qualify for funding
  • Applicants whose combined household income is not more than R350 000 per annum
  • A person with a disability: Combined household income must not be more than R600 000 per annum
  • Students who started studying before 2018 whose household income is not more than R122 000 per annum.

Who should not apply?

  • Students that have completed a previous qualification.
  • Students with a combined household income of more than R350 000 per annum.
  • Students who have already applied, qualified and received funding. They are automatically funded for the duration of their studies provided they pass their modules and meet the academic requirements.
  • Foreign students (any student who is not a South African citizen).
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

Contact Details

Postal Private Bag X1, Plumstead, 7801
Physical 2nd Floor, House Vincent, 10 Brodie Road, Wynberg, Cape Town, 7700
Tel 021 763 3200 / 08000 67327
Web www.nsfas.org.za
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