The National Student Financial Aid Scheme (NSFAS) released the NSFAS loan eligibility criteria and conditions of funding. This includes details on what happens when a NSFAS loan beneficiary wants to change their qualification.
NSFAS provides student loans to deserving missing-middle students enrolled in approved courses at universities and TVET Colleges. This funding covers tuition and registration fees, as well as several allowances for food, accommodation, and learning materials.
The NSFAS loan is set to benefit thousands of students by giving them the funding they need to obtain a tertiary qualification. However, what happens when a student wants to change their qualification?
Will Changing My Qualification Have Any Affect My NSFAS Loan?
NSFAS confirmed that students who change institution types will have their loan funding terminated.
They will have to reapply for a NSFAS loan. This includes students going from a university to a TVET College or vice versa.
Students who change institution types from TVET College to University or vice versa) would terminate their loan agreement and a new application would have to be made to be considered for loan fund eligibility at another institution type.
NSFAS is not obligated to provide previous NSFAS loan beneficiaries with a different loan if they transfer to a different institution type.
It is the loan scheme’s prerogative to consider a reconsolidated loan agreement.
Students who deregister from their course of study will also need to reapply if they want to continue their studies at a later date.
