NSFAS offers funding to students who cannot afford to pay their fees. What many students misunderstand is that your marks are not a qualification for a NSFAS bursary. Your marks are important for you to earn entrance into an institution but to be selected for funding, the qualifications relate to your SASSA status or to your household income.
NSFAS funds 42% of the university population, and 70% of TVET college students. NSFAS does not fund private institutions.
If you have a refund due, you are probably wondering how you can claim back your money.
To do so, you will need to complete a refund form. You must have the form stamped at the bank and have a valid bank account which is registered under your ID number. Email the form to [email protected] The refund will be paid within 21 days of the verified refund form being received.
You can also submit your queries through NSFAS Chat.
When students are accepted for funding, students sign 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.
When paying 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 [email protected]
The government has not said anything to NSFAS about writing off any outstanding loans that need a repayment. When NSFAS changed the funding from loans to bursaries, the understanding was that the change was effective from the academic year of 2018. This means that funding given to students before 2018, still need to be paid back.
These questions and answers mostly apply to students who applied for NSFAS funding before December of 2017. This means a student applied for funding when NSFAS offered loans before the move to free education, after which NSFAS offered bursaries which don't need to be paid back.
How much time do students have to pay back the NSFAS loan?
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.
South African Bulk Terminals (Pty) Ltd (SABT), a major business unit within Bidvest Freight, the freight management arm of the Bidvest Group, invites qualifying unemployed learners to apply for bursaries for the 2021 academic year.