The National Student Financial Aid Scheme (NSFAS) has urged students to repay the funding that they received from the scheme previously. The recovery of funds from NSFAS loans is critical for the financial sustainability and future of the government bursary scheme.
NSFAS provides comprehensive bursaries and student loans to deserving learners enrolled in approved courses at universities and TVET colleges. The funding not only includes money for tuition and registration fees but also includes several allowances for food, accommodation and learning materials.
However, NSFAS funding did not always work this way. Before 2018, NSFAS was a loan scheme. This meant that every cent NSFAS provided to students to support their education journeys had to be repaid to the financial aid scheme.
In 2018, NSFAS was converted to a bursary. However, all students who received the government funding would still be required to repay NSFAS.
NSFAS is now calling on students who received NSFAS loans before 2018 to repay their loans. This is critical for the future of student funding according to the scheme.
Begin the first step today! Begin repaying your NSFAS loans and pave the way for future students. Your contribution matters - let's make quality education accessible to all
NSFAS added that all repayment amounts, no matter how little, will contribute to ensuring future students can also enjoy the benefits of NSFAS funding, saying "remember, every payment counts, no matter how small it is".
Earlier this year, the Special Investigating Unit (SIU) signed an acknowledgement of the debt agreement worth nearly R11 million with parents and students who did not meet the NSFAS funding criteria. This also forms part of the efforts to recover funds owed to NSFAS.
NSFAS Relaunches Loan Scheme
In 2024, NSFAS missing middle student loans were launched as part of the Comprehensive Funding Model in January by Higher Education Minister Blade Nzimande.
These loans are available to students who do not qualify for NSFAS bursaries and have a household income between R350,000 and R600,000. Students who still fall below the R350,000 household income threshold can still apply for NSFAS bursaries.
