NSFAS Loan or Bursary

Do I owe NSFAS, NSFAS Loan or Bursary

The National Student Financial Aid Scheme (NSFAS) was established in terms of the National Student Financial Aid Scheme (Act 56 of 1999). The Department of Higher Education and Training funds the NSFAS bursary programme for those who are unable to pay for their education and are not eligible for bank loans, study loans, or bursaries. One of the main worries when applying to universities and colleges is how one would cover his fees. This is where NSFAS may come into play, however, it’s still not entirely clear if NSFAS is a loan or a bursary. detail explanation can be read below.

Is NSFAS A Bursary Or A Loan

The NSFAS is a combination of loan and bursary where repayment is contingent on meeting specific requirements. It is crucial to mention that NSFAS is a government organisation that essentially offers loans to students in order to help them finish their higher education.

Do You Have To Pay Back Your NSFAS Bursary

YES.

The student is required to repay NSFAS after they graduate and begin earning money. when a bursary programme has no repayment obligations. The students’ 40% loan will be converted into a bursary if they pass the test, and the remaining 60% will be refunded.

Upon the completion of their studies and loan repayment to NSFAS, the students’ payment assists in funding the applications of all other students seeking admission to this programme. Additionally, students sign and promise to refund the loan payment while applying for NSFAS.

Who Qualifies For NSFAS Funding

All South African citizens
All SASSA grant recipients qualify for funding
Applicants whose combined household income is not more than R350 000 per annum
A person with disability: Combined household income must not be more than R600 000 per annum
Students who started studying before 2018 and whose household income is not more than R122 000 per annum.

Contact Details Of Nsfas

NSFAS Contact Center: