This article’s primary aim is to update readers with the necessary information about NSFAS requirements.
What Is NSFAS?
NSFAS is an abbreviation for the National Students Financial Aid Scheme. The NSFAS was established in 1996 with its headquarters at Wynberg, Capetown South Africa. It is a financial aid scheme of the South African government. The sole aim of the NSFAS is to provide financial relief to undergraduate students which will help them cater for their tertiary education after they have completed high school.
How Does The NSFAS Work?
The NSFAS is a government financial aid scheme. It was enacted per the NSFAS Act (Act 56 of 1999). It provides aid to students who wish to further their education but may not have the financial freedom to do so. This aid is limited to students in public universities or TVET colleges.
NSFAS Requirements 2022
The basic and minimum NSFAS requirements of an applicant wanting to be accepted by NSFAS must be a South African whose family’s income is not more than R350000 per annum.
Who Qualifies For NSFAS Funding?
To qualify for this funding, you must be;
- A South African citizen
- You must come from a family whose annual household income is not more than R350,000
Who Does Not Qualify For NSFAS Funding?
- If you have already completed a qualification
- If your annual household income exceeds R350,000
- If you have previously qualified and received funding
How Do I Check If I Qualify For NSFAS?
To check if you qualify to enjoy the benefits that come with NSFAS, follow these steps;
- Visit this link https://www.nsfas.org.za/content/index.html
- Key in your username and unique password
- Click on sign in
- Once you are in, tap on Track Funding Progress to view your status
Benefits Of NSFAS To Students
- It aids students to pay their school fees, registration fees, and other fees
- It provides students with allowances for meals, books, and accommodation
List Of Courses Funded By NSFAS 2022?
- Adult Learning
- Building Construction
- Building Construction
- Cleaning, Domestic, Hiring, Property and Rescue Services
- Communication Studies
- Consumer Services
- Cultural Studies
- Curative Health
- Design Studies
- Drawing Office Practice
- Early Childhood Development
- Earth and Space Sciences
- Electrical Infrastructure Construction
- Engineering and Related Design
- Environmental Relations
- Environmental Science
- For more courses, click on this link https://www.acanet.co.za/posts/list-of-courses-funded-by-nsfas/
Who Funds The NSFAS?
The National Students Financial Aid Scheme is funded by the Department of higher education and training. The NSFAS also takes part in managing bursaries such as the Funza Lushaka Teacher’s Bursary, The Disability Bursary amongst others.
Is NSFAS A Loan Or Bursary?
NSFAS in more ways than one is rather a bursary scheme that offers students loans that will help them finance their tertiary education.
Do I Need To Pay Back NSFAS?
Yes, you will have to pay back NSFAS the onus is on you to pay back as it is a loan that is given to students who wish to pursue their education but do not have the means. It must be noted that the loan will be paid back once the student completes their qualification and start earning.
How Much Will I Pay Back For NSFAS?
The repayment is started with a 3% on your annual salary but when the annual wage increases to R59,300 or more, the percentage calculated on it increases to 5%.
How Much Does NSFAS Pay Monthly?
For private residents, R25,200 monthly with hostel accommodation at R33,000 annually. Payments are made 10 times a year. It must be noted that these payments are subject to change.
How Many Years Will NSFAS Fund My Education?
Provided the student passes the means test, NSFAS will fund your education for as long as five years. If your education takes more than five years, you will have to pay for the fees yourself.
What documents do I need for NSFAS?
To apply for NSFAS, you will need these documents;
- Certified identification copies of household members which must include parents or your legal guardian
- Your latest academic transcript or exams results
- Proof of income (parents or legal guardian)
Uploading NSFAS Requirements Documents
To upload your documents for NSFAS, do these;
- Click on this link https://www.nsfas.org.za/content/index.html
- Proceed to sign in to your myNSFAS account with your username and password
- Tap on ‘Upload Outstanding Supporting Documents
- A window appears where you will be allowed to select documents from your files
- Complete the action by clicking on submit
- Note that the best format to use is PDF
Will I Be Able To Upload Documents After Submitting My Application?
No, you will not be able to upload any document after you have submitted your application. In light of that, applicants are advised to wait until the evaluation team contacts them that they will need supporting documents to upload all at once.
How do I apply for NSFAS online 2023?
We do recommend to you that you read our NSFAS Application complete guide
- Toll-free- 08000 67327
- Telephone- 021 763 3200
- Email- [email protected].