The National Student Financial Aid Scheme (NSFAS) provides both bursaries and loans to those individuals wishing to pursue their tertiary education at public universities or TVET Colleges. NSFAS funding goes beyond just paying for tuition as allowances for various students needs are disbursed as well.
Students funded through the NSFAS Loan Scheme will also receive NSFAS allowances.
NSFAS Allowances Provided To Students
The following NSFAS allowances form part of funding:
- Accommodation
- Transport
- Learning Materials
- Meals
- Personal Care
How NSFAS Allowances Will Work For NSFAS Loans
Strategic Enablement Executive at NSFAS, Vuyokazi Mafilika, said:
The allowances provided in the Loan Scheme will align with those offered in the bursary scheme and will not differ.
NSFAS has said that they will continue to use the same channels for disbursing allowances to students as that used for bursary students.
NSFAS Loan Requirements
- Annual household income between R350,001 and R600,000
- Accepted to study at either TVET College or public university
- Can apply in years 1, 2, 3 or 4
- Must achieve average of 60% in their course work to continue funding
70% of those funded by the NSFAS loan must be following STEM subjects, which may include commercial and entrepreneurial courses, with 30% for those studying Humanities courses.
If students achieve more than 70%, and finish within prescribed time of course, they can have 50% of the loan written off.
