How does NSFAS make sure that students pay back the loan?

As a NSFAS funded student, or in general, you may be curious as to how NSFAS ensures that students funded before 2018 pay back their loan. 

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As a NSFAS funded student, or in general, you may be curious as to how NSFAS ensures that students funded before 2018 pay back their loan. 

Students funded after that date will be a bit confused! Do you have to pay back NSFAS? The good news for recent beneficiaires of NSFAS is that it is now a grant and you do not have to pay anything back.

The news is not so good for students who received funding before 2018. When those students were accepted for funding, the students signed a legal contract that has a focus on the loan. NSFAS also works with organisations such as SARS to find out the NSFAS beneficiaries who are employed and earning more than R30 000 per year. 

If you do have to pay back a loan to NSFAS all deposits and transfers need to be into the NSFAS bank account using your ID number as your reference number. For more information about ways to make payments, you can email collections@nsfas.org.za

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The wait is almost over, as applications for NSFAS funding will be opening soon. Minister Blade Nzimande held a media briefing on Thursday morning to reveal when students can start applying. 

Students who are funded by NSFAS qualify to receive allowances directly from the financial aid scheme. These allowances are kept in their NSFAS wallets. Here's how you can check your NSFAS wallet balance.

Boland College has opened applications for NSFAS appeals and applications. The TVET College has announced the period for application submissions. 

After closing due to the lockdown in 2020, NSFAS has officially reopened its walk-in centre. This means hopeful applicants, as well as current NSFAS bursary holders, can visit the centre for assistance.

If you are currently receiving funding from the National Student Financial Aid Scheme (NSFAS), you might be wondering if you can apply for the R350 grant. 

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