NSFAS applications are now open. Should you be in a household where you're not the only one needing funding from NSFAS, it's then good for you to know that NSFAS will fund more than person in the household should they apply and meet the requirements.
NSFAS provides funding to poor and working class students at Universities and TVET Colleges. The financial aid scheme has been running for 27 years since 1991 and up until 2018, provided funding for more than 3 million students.
From 2018 onwards, NSFAS is considered a bursary and no longer a loan. This is good news as anyone who started getting funding from NSFAS in 2018 and forward won't have to pay them back. The only requirement to stay funded is for students to pass.
NSFAS does however grant students a grace period of a year and will fund students for an extra year should they need to redo a year. Those funded before 2018 have a grace period of two years. This is called the N+ rule.
NSFAS has said that it's important for students to monitor the NSFAS portal for any updates from the financial aid scheme. It's important to remember that there are no sister websites where you can apply to NSFAS and applicants should therefore be careful when it comes to sharing any of their information.
Should you not be able to apply online on your own, assistance can be found at National Youth Development Agency centres across the country or at Teacher Centres as NSFAS partners with the Department of Basic Education. This assistance is offered at no cost.
NSFAS does not fund postgraduate students or students with a household income of more than R350 000 per year. Some students find that their household income exceeds the threshold income but they still can't afford to pay their fees. These students are labelled as the 'missing middle'. However, NSFAS has responded and said that they are working with the government to look into how they can assist in providing funding to students who fall under those categories.
NSFAS has ties and partnerships with organisations who are able to fund postgraduate students. One such organisation is the National Research Fund (NRF) who provides funding to various postgraduate qualifications.
NSFAS applications are currently open and will close on 30 November 2020.
