NSFAS is the National Student Financial Aid Scheme NSFAS which provides financial aid in the form of a bursary fund for higher education students through NSFAS. NSFAS online application and registration opens in the later part of the year for students with the NSFAS closing date usually being in the next calendar year.
NSFAS funds university courses and most TVET College courses.
The organisation is controlled by the Nsfas board, who give direction to the Nsfas management on running the financial assistance organisation. The South African government minister responsible for Nsfas is Dr Blade Nzimande who is the Minister of Higher Education, Science and Innovation.
NSFAS gives bursaries to students from poor and working class backgrounds which goes beyond just paying for your fees. They’ll also pay the NSFAS students’ registration, accommodation, transport, books through NSFAS allowances using the NSFAS bank account. Different NSFAS allowances are paid for university students and TVET College students.
The NSFAS bank account is part of NSFAS’ new direct payment system.So what are the NSFAS requirements?
The most important requirement for financial eligibility is that your household income should come to R350 000 or less per year. This means that if you add up everyone’s salaries in your house for the year and it comes to over R350 000, you won’t qualify.
If you are a student living with a disability and you’re wanting financial aid, this household income threshold is R600 000 per annum.What does NSFAS funding cover?
NSFAS financial aid gives bursaries to students from poor and working-class backgrounds which goes beyond just paying for your fees. They’ll also provide financial support for your registration and tuition fees, accommodation, transport, and books.
NSFAS funded students living in self-catering residence will also benefit from receiving monthly living allowances and is perfect for working class families.
This financial aid is for any NSFAS students studying at one of the 26 public universities or one of the 50 technical vocational education and training colleges. If you are successful with your NSFAS application you will be funded for your whole multi-year qualification if you meet the academic eligibility.
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