National Student Financial Aid Scheme

National Student Financial Aid Scheme; Who is eligible for NSFAS financial aid

The National Student Financial Aid Scheme is a South African government student financial aid scheme that provides financial aid to undergraduate students to help pay for their tertiary education after finishing high school. The Department of Higher Education and Training funds it.

Their goal is to make NSFAS an effective and efficient source of financial aid for working-class and poor students in a sustainable way that will support their success in pursuing higher education and training, as well as South Africa’s national and human resource development goals. National Student Financial Aid Scheme

Vision:

A model public entity operating within the public post-school education ecosystem that provides equitable access to financial and other resources for eligible students in an efficient, transparent and professional student-centric manner.

Mission;

To be an agile, responsive and student-centric resource provider within the public higher education ecosystem.

Values;

we have the social justice, integrity and Excellence.

What is NSFAS?

NSFAS is a government entity under the Department of Higher Education and Training established according to the NSFAS Act (Act 56 of 1999) to provide financial support to disadvantaged students who wish to further their studies at public universities or TVET colleges.

NSFAS is a government agency in South Africa that was founded in 1999 and is managed by the Department of Higher Education, Science, and Innovation. Its main goal is to give qualified students financial aid in the form of loans and bursaries. The program pays for a range of costs, such as living expenses, study materials, housing, and even tuition.

Apply for financial assistance from NSFAS

Do you require financial aid to attend a postsecondary education institution? Apply for a bursary through the National Student Financial Aid Scheme (NSFAS). For individuals who lack the resources to pay for their education and are not eligible for bank loans, study loans, or bursaries, the Department of Higher Education and Training funds the NSFAS bursary program. Who is eligible for NSFAS financial aid

Eligibility Criteria for NSFAS

If you are a citizen of South Africa, intend to enrol in school in 2025, or if are enrolled in a public university or TVET college and match the following criteria, you are eligible for an NSFAS bursary:

SASSA grant recipients
South African citizens or permanent residents
Candidates whose annual gross household income combined is not greater than R350 000
individuals with disabilities whose annual gross family income is not greater than R600,000.
Both a cell phone number and email address are required.

National Student Financial Aid Scheme

What does the bursary cover?

Amounts indicated for accommodation, living allowance, transport, and learning materials need to be aligned with the approved latest DHET guidelines.

UNIVERSITY

Accommodation As per the actual costs charged by the university (costs for private accommodation must not exceed costs for university residence)
Transport (up to 40 km from the institution) R7 500 per annum
Living allowance R15, 000 per annum
Book allowances R5200 per annum
Incidental/personal care allowance of R2900 per annum for students in catered residences

TVET

Accommodation in an urban area R24,000 per annum
Accommodation in a peri-urban area R18,900 per annum
Accommodation in a rural area is R15,750 per annum
Transport (up to 40 km from the institution) R7,350 per annum
Transport R7000 per annum
Incidental/personal care allowance R2900 per annum

Advantages of NSFAS to Qualified Students

For qualified students, the NSFAS has the following important benefits:

Financial Assistance: Pays for living expenses, study materials, housing, and tuition.
Free of interest loans: This type of loan offers good terms and is free of charge while you’re a student.
Bursaries & Grants: Depending on their academic standing, some students may be eligible for full support, turning their loan into a bursary.
Conditions for Repayment: After the student completes their studies and earns a specified amount of money, repayment can only start.

Students can use this essential financial assistance to reach their full potential and make significant contributions to society by being aware of the eligibility requirements, application procedure, and benefits provided by NSFAS. For more information contact: the National Student Financial Aid Scheme

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