NSFAS Loan Or Bursary

NSFAS Loan Or Bursary

NSFAS is a South African government project that aims to make higher education more affordable to students from low-income families. It offers financial assistance in the form of loans and bursaries to pay for education, accommodation, and other study-related expenditures. This effort is essential in fostering equality and ensuring that deserving students have access to great education. NSFAS assists students through a variety of models, including bursary and loan programs.

READ: What Does NSFAS Bursary Cover

NSFAS Models

As an NSFAS beneficiary, you need to understand the NSFAS model you are receiving your funds from, either loan or bursary. Read further to discover the NSFAS bursary you receive funds from;

Bursary Model: NSFAS provides bursaries to academically qualified students from low-income families. Bursaries pay for tuition, housing, and other study-related expenditures. Bursaries, unlike loans, do not have to be repaid.

NSFAS Loans: These are financial support that students must return once they finish their education and begin working. The loan conditions are attractive, with low-interest rates, and repayments begin only if the graduate’s salary reaches a set level. NSFAS loans are generally repaid using an income-based repayment system. This implies that the amount a graduate must repay is determined by their earning level. When a graduate’s salary reaches a particular threshold, they begin repaying their debts.

READ: Do You Have To Pay NSFAS Back 2024/2025?

Who Qualifies For NSFAS Bursary/Loan?

To qualify for NSFAS support, applicants must meet the following criteria:

Be a South African citizen.
Come from a family with a combined household income of R350,000 or less per year.
Be enrolled or planning to enrol at a public university or TVET college in a designated course.
Have a valid South African ID document.

How To Apply For NSFAS Bursary/Loan?

Provided below is a step-by-step guide on how to apply for NSFAS;

Go to www.nsfas.org.za and click on the ‘myNSFAS’ tab.
Create a myNSFAS account
Click on the ‘APPLY’ tab and complete the sections on the screen
Upload required supporting documents where applicable
Click on ‘Submit’.

Documents Required to Apply For NSFAS

The following documents must be uploaded to apply for NSFAS;

Copy of student ID / Birth certificate
Copy of parent/s or guardian/ spouse ID
Smart card: both sides of the card required
Proof of income (where applicable)
Persons living with disability (Disability Annexure A form)
An applicant who is recognised as a vulnerable child by the Department of Social Development must provide a completed Vulnerable Child Declaration form completed by a social worker
An applicant who has indicated that s/he has no family member details and or abridged birth certificate must complete the Declaration: Non-SASSA.’

READ: NSFAS Bursary Requirements 2024/2025

Contact NSFAS

Email: info@nsfas.org.za
Facebook: National Student Financial Aid Scheme
Twitter: @myNSFAS
Instagram: @myNSFAS
WhatsApp: +27 78 519 8006
USSD:*120*67327#

NSFAS loans and bursaries are an important component of South Africa’s efforts to promote equal access to higher education. If you meet the eligibility requirements, don’t hesitate to apply and open up the opportunity to a better future. Visit the official website of NSFAS for more information.

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