Nsfas funding 2023
Nsfas funding 2023
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.
It provides for payment by NSFAS of the amount of the loan or bursary “to the designated higher education institution”, rather than to the applicant. It also allows NSFAS to enter into what is in effect an agency agreement with higher education institutions (HEIs) or further education and training (FET) colleges.
Are Nsfas applications open for 2023
NSFAS applications for student funding for the 2023 academic year are opened from 1 November to 30 January 2023. It is always good to submit your application earlier than the deadline.
You qualify to apply for a bursary if:
- You are a South African citizen;
- Your combined annual household income does not exceed R350 000 per annum;
- You are a SASSA grant recipient;
- You are registering for the first time for an undergraduate qualification at a public university or you are registered at a TVET college for one of the National Certificate Vocational or report 191 programmes;
- You are applying to study at a public university or TVET college for a qualification;
- You are an already registered university student with an annual household income of less than R122 000 per year;
- You have passed Grade 9 & 10 to receive NSFAS funding to study at a TVET college;
- You have passed Grade 12 to receive NSFAS funding to study at a university.
How to Apply for NSFAS Online 2023
If you would like to apply for NSFAS 2023, follow the steps outlined below:
- You have to visit the NSFAS website: www.nsfas.org.za online
- Then, you have to click on the “myNSFAS” tab
- After that, you create your myNSFAS account
- After creating myNSFAS account, you then have to click on the “Apply” tab
- Answer the following questions you see on your screen
- Update all your personal information
- Upload all the required supporting documents
- Lastly, Click on “Submit” to send your application for review.