The National Student Financial Aid Scheme (NSFAS) has introduced loans to support missing-middle students — those who don't qualify for bursaries but still need financial assistance. While many students welcomed this opportunity, some may choose to cancel their NSFAS loan offer.
The NSFAS Eligibility Criteria and Conditions for the NSFAS Student Loan Scheme outlines how students can decline a loan offer. NSFAS funding covers tuition, registration, and includes allowances for food, accommodation, and study materials at approved universities and TVET colleges.
Thousands of students applied for the new NSFAS loan. Applicants must first sign a pre-agreement and quote, and then a final loan agreement to confirm acceptance of the terms and conditions.
However, if a student chooses not to proceed with the loan, they have the option to decline it.
Steps To Decline Your NSFAS Loan Offer
Students must notify both NSFAS and their institution within 30 days of receiving the loan offer.
“If a student wishes to decline the loan, they must inform NSFAS, and the institution concerned within 30 days.”
NSFAS will automatically withdraw loan offers if students fail to accept the offer or submit the required documents within the specified timeframe.
“Students who do not accept their loan offer or fail to provide all required supporting documents within 30 calendar days will be deemed to have declined the loan offer.”
