Fundi Banner


Enter your email address for emails about the latest BURSARIES available

You can unsubscribe at any time

Advertisement

Type your keywords in the search box above

Ways to Repay your NSFAS Loans


Advertisement

In December 2017, the President announced that NSFAS will offer bursaries as a form of free education rather than loans that need to be paid back. Students who received a NSFAS loan before the president's address need to repay the loaned amount as per the agreement form that was signed. If you only started being funded by NSFAS in 2018, there is no need to pay back any money as you received a bursary. 

 

You will only need to start paying back the bursary once you have a salary of R30 000 or more per year. The repayments will not be place a great burden as it is based on the salary of the person. 40% of the loan is considered a bursary if you pass all the courses that you were registered for in that year and so the other 60% of the loan needs to be repaid. Final Year students can also have their final year loan converted into a complete bursary if they pass all their final year courses and qualify to graduate. If students do not complete their studies, they are still required to repay the loan once they start earning R30 000 or more per year. 

 

There are various ways to pay money to NSFAS. 

1. Debit order 

You submit an electronic debit order form and email it to [email protected] You can find the form here. This method doesn't require you to remember to pay every month. 

 

2. Electronic Funds Transfer (EFT) 

You can EFT NSFAS each month using the following details.

  • Name of Account: NSFAS
  • Branch Code: 210554
  • Bank: First National Bank
  • Account Number: 500 600 28203
  • Please use your ID Number (6711165000000) as a reference when making payments

Alternatively, if you bank with Standard Bank, Capitec, FNB or ABSA, NSFAS is a beneficiary that you can find by searching in the list of beneficiaries. 

 

3. Salary Deductions 

The other method is a salary deduction where your employer makes deductions from your income and pays it to NSFAS for you. You will need to submit this form and submit it to your employer. 

Advertisement

Latest Bursaries

Shoprite is offering a range of bursaries to talented students studying in the following fields: 

The Construction Education and Training Authority is inviting suitable candidates who are interested in construction related studies to apply for bursary for the year 2021.

Closing date: 26 March 2021.

The Gauteng Film Commission (GFC) invites qualified Undergraduates and Post-Graduate students  who are interested in a career in Film, Audio-Visual and/or Television to apply for bursaries.

The bursaries will be awarded to students studying in the following fields:

Converse is giving away R1 million towards student debt. Applicants can apply for the #KicktheDebt campaign or nominate deserving students. 

Closing date: 3 March 2021.

The Head of Department of the Gauteng Provincial Department of Human Settlements hereby invites admitted under-graduate students to apply for bursaries to undertake full-time studies in the 2021 academic year.

Gauteng Department of Human Settlements is offering limited number of bursaries.

Advertisement