The "missing middle" refers to students from families earning too much to qualify for the NSFAS bursary but not enough to comfortably afford tertiary education costs. This financial gap creates a significant barrier to access, and the NSFAS loan scheme aims to bridge it.
NSFAS prioritizes Science, Technology, Engineering, and Mathematics (STEM) fields, allocating 70% of the loan scheme to these programs. The remaining 30% is aimed at students enrolled in Humanities and Social Sciences programmes.
What are the Eligibility Requirements?
- Must be a South African citizen with a valid ID.
- Annual household income must fall between R350,001 and R600,000.
- Maintain a minimum average of 60% in coursework to retain funding.
- Registered for full-time undergraduate or postgraduate studies at a public university or TVET college.
What Does the Loan Cover?
Similar to the NSFAS bursary, the loan provides funding for tuition, registration fees, and allowances for essential expenses like accommodation, transport, learning materials, and other student needs. NSFAS will utilize the same disbursement channels as those used for bursary recipients.
How to Apply for an NSFAS Loan
- Visit the NSFAS website and click on "myNSFAS."
- If you are a new user, create a profile by clicking "Create a profile" and filling in the required fields.
- Existing users can log in with their credentials.
- Complete the application form and submit it electronically.
Understanding Your Application Status
- A "provisionally funded" status indicates that your application is approved in principle. However, NSFAS requires additional steps before confirming the funding.
- You will receive a pre-agreement form outlining the loan terms and conditions for your signature.
- NSFAS will then obtain your full registration information from the institution.
- Upon completion, a final loan agreement will be generated for your signature.
NSFAS confirms that up to 50% of your loan can be converted into a bursary if you achieve an average of 70%. This incentivizes hard work from students.
