Nsfas qualifying students

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Nsfas qualifying students

Nsfas qualifying 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.

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.
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.

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).

What does the bursary cover?

UNIVERSITY

  • Accommodation
    As per the actual costs charged by the university (costs for private accommodation must not exceed costs for university residence)
  • Transport (up to 40 km from the institution) R7 500  per annum
  • Living allowance R15, 000  per annum
  • Book allowances R5200 per annum
  • Incidental/personal care allowance R2900 per annum for students in catered residences

TVET

  • 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

HOW TO APPLY

  1. To begin, you must create your myNSFAS account
  2. After that, you click the Apply tab
  3. Update all your NSFAS online Application information.
  4. Upload your supporting documents
  5. Submit your application by clicking on the “SUBMIT” button.

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