Do We Pay Back NSFAS?

Do We Pay Back NSFAS?

When you get funding from the National Student Financial Aid Scheme, you should know that it normally has to be paid back later. This means that the money you receive for your studies isn’t just a gift—it’s mainly a loan to help you complete your qualification. The good news is that you don’t have to start paying it back while you’re still studying or if you don’t have a proper income yet. Repayments only start after you finish your higher education and begin earning more than the minimum set amount. At the moment, you only start repaying once you are earning at least R30,000 per year.

If you earn less than this amount, you don’t need to pay anything back until your income increases. Once you start earning above that level, you’ll have to begin making payments, and the repayment amount is based on how much you earn. Basically, the higher your income, the more you’ll be expected to pay each month.

The National Student Financial Aid Scheme (NSFAS) is a government programme in South Africa that helps students pay for university or college. It covers your tuition fees, accommodation costs, and living expenses like meals, transport, and study materials. This help makes it possible for many young people to get a qualification who would otherwise not be able to afford it. Even though NSFAS is very helpful, you have to remember your obligation to repay the funds when you are working.

Learn more: NSFAS Funding 2026/2027

How to Pay Back NSFAS in 2026

If you received a National Student Financial Aid Scheme loan before the president announced free education in December 2017, you still need to pay back the money according to the agreement you signed. You can repay your NSFAS loan in these ways:

• Debit Order:

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

• Electronic Funds Transfer (EFT):

If you would like to do an EFT each month, these are our bank details.

1. Name of Account: NSFAS
2. Branch Code: 210554
3. Bank: First National Bank
4. Account Number: 500 600 28203
5. Please use your ID Number (6711165000000) as a reference when making payments.

• Salary Dedication:

Your employer may deduct money from your paycheck and pay it to the National Student Financial Aid Scheme.
Print, fill out, and return the form to your company.

What Happens If You Don’t Pay Back NSFAS?

If you don’t repay your National Student Financial Aid Scheme loan as agreed, several things can happen:

Interest Will Grow:

• Even though NSFAS loans have a low interest rate, any money you still owe will keep collecting interest. Over time, this means your debt will get bigger.

Your Credit Record Will Be Affected:

• Not paying back your loan can hurt your credit score.
• A bad credit score makes it much harder to get other loans, like when you want to buy a car, a house, or get credit for something else.

Legal Steps Can Be Taken:

• NSFAS has the power to take legal action to collect the money you owe.
• They could get a court order to take money directly from your salary or even take some of your belongings to cover the debt.

You Might Not Get Your Certificate:

• If you still owe NSFAS money, your academic results or certificates could be blocked.
• This can stop you from using your qualification to apply for jobs or further studies.

Learn more: When Will NSFAS Open For 2026

No More Funding:

• If you don’t pay back your loan, you won’t be able to get NSFAS help again if you decide to continue your education later.

Extra Charges:

• You may also face extra fines or fees for not paying or for paying late, which will increase the total amount you owe.

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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