A major gap exists when it comes to funding for missing middle students and postgraduate students. In efforts to solve this issue, the Department of Higher Education and the National Student Financial Aid Scheme (NSFAS) has developed the Comprehensive Student Funding Model.
Within this model, it was announced that NSFAS loans will be made available to missing middle students and students who were rejected when applying for NSFAS funding. The financial aid scheme has now revealed further details about the new NSFAS loan scheme.
Students who already applied for the NSFAS bursary scheme need not to submit a new application for the student loan scheme. All students who did not meet the bursary scheme eligibility criteria, however, meet the loan scheme eligibility criteria, will be automatically offered a loan for their consideration.
When do NSFAS loan applications close?
Applications for the NSFAS loan for missing middle students are now open and will be closing on 15 February. Applications need to be submitted on the NSFAS website, using myNSFAS.
These NSFAS loans are for both undergraduate and postgraduate students, studying at public higher education institutions.
How to apply for a NSFAS loan
NSFAS loan application forms can be accessed through the NSFAS website. Applicants should follow these steps:
- Go the NSFAS website
- Click on the 'myNSFAS' button
- Click on 'Create a profile'
- Fill in the required fields
- Log in
- Submit the application
Requirements for a NSFAS loan
- Annual household income is between R350 000-R600 000
- Studying at a public TVET College or public University
- Undergraduate or postgraduate students
- Can apply in years 1, 2, 3 or 4
- Must achieve average of 60% in their course work to continue funding
NSFAS missing middle loans will have a particular emphasis on Science, Technology, Engineering, and Mathematics (STEM) programmes, constituting 70% of beneficiaries. The remaining 30% will be allocated to Humanities and social science programmes.
Once students are approved, they would need to sign a NSFAS loan agreement.
