Do We Pay Back NSFAS?
Yes, the NSFAS fund is to be paid, which means you must return the money that have been issued to you. Repayments begin only when you graduate and earn a specified minimum salary, which is presently fixed at R30,000 per year. Your NSFAS repayment depends on your income. If your income exceeds the minimum, you will be compelled to make repayments. The precise proportion depends on your wages.
NSFAS is a South African government initiative that provides financial assistance to qualified students pursuing university education. It covers tuition, housing, and allowances, making higher education more accessible to individuals who may not be able to afford it otherwise.
READ: How Much Does NSFAS Pay For Accommodation?
All students who got an NSFAS loan prior to the president’s declaration of free education in December 2017 must repay the loaned amount in accordance with the loan agreement form they signed. NSFAS fund can be paid by the following ways;
This is an excellent option if you don’t want to bother about remembering to pay your NSFAS loan every month. Simply fill out and submit the electronic debit order form. OR Complete this form and email it back to collections@nsfas.org.za
If you would like to do an EFT each month these are our bank details.
Your employer may deduct money from your paycheck and pay it to NSFAS.
Print, fill out, and return the form to your company.
READ: Will NSFAS Fund Education Students In 2024/2025?
What Happens If You Don’t Repay NSFAS?
If you do not return your NSFAS (National Student Financial Aid Scheme) loan on time, you may face a number of consequences, including;
READ: Does NSFAS Fund 6 Months Courses?
Contact NSFAS
Contact NSFAS through the following details;
Email: info@nsfas.org.za
Facebook: National Student Financial Aid Scheme
Twitter: @myNSFAS
Instagram: @myNSFAS
WhatsApp: +27 78 519 8006
USSD:*120*67327#
Visit the official website of NSFAS for more information.
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