NSFAS News

Release Date For NSFAS Loan Funding Decisions

Published

2 weeks ago

September 4, 2024

Release Date For NSFAS Loan Funding Decisions. Thousands of students across South Africa have applied for the National Student Financial Aid Scheme (NSFAS) student loans, seeking support to finance their higher education. After much anticipation, NSFAS has revealed important updates about the number of students who will receive funding.

NSFAS Condemns False Claims

Recently, NSFAS addressed false claims made by a member of the Portfolio Committee on Higher Education and Training. These claims alleged that NSFAS had confirmed that the announcement made by Minister Blade Nzimande on January 14, 2024, regarding funding for “missing middle” students, was a hoax.

NSFAS Administrator Freeman Nomvalo clarified during a meeting with the Portfolio Committee on Higher Education and Training (PCHET) on August 21, 2024, that these claims were untrue. He reiterated that the information shared at the PCHET meeting aligns with the facts, contrary to the false allegations.

Launch of The Comprehensive Student Funding Model

In January 2024, the former Minister of Higher Education, Blade Nzimande, introduced the Comprehensive Student Funding Model. This initiative generated excitement among students, particularly those who fall into the “missing middle” category. These are students whose household income is too high to qualify for NSFAS bursaries but too low to cover the high costs of tertiary education.

The new funding model aims to bridge this gap by offering the “missing middle” students the same level of financial support as those who receive NSFAS bursaries, but in the form of student loans. This model offers a much-needed opportunity for students who have long been overlooked in the traditional funding schemes.

Benefits Of The NSFAS Student Loan

One of the most significant advantages of the NSFAS student loan is its favorable repayment terms. Unlike traditional loans, NSFAS offers students the possibility of reducing their total repayment amount based on their academic performance. Students who excel in their studies may have their repayment amount reduced by up to 50%, making it an attractive option for those dedicated to achieving academic success.

How Many Students Were Approved For NSFAS Loans?

By August 15, 2024, NSFAS had reported that 1,300 students had met the eligibility criteria—both academic and financial—required to qualify for the NSFAS Loan Scheme. This figure represents a small fraction of the 31,000 loans NSFAS initially set out to fund.

Additionally, NSFAS disclosed that 70% of the approved loans would go to students enrolled in Science, Technology, Engineering, and Mathematics (STEM) programs, while the remaining 30% would be allocated to students pursuing Humanities and Social Sciences courses. The final list of successful applicants is expected to be shared with educational institutions by September 5, 2024.

Eligibility Requirements For The NSFAS Loan

To be eligible for the NSFAS loan, students must meet the following criteria:

Be a South African citizen with a valid ID.
Have an annual household income between R350,001 and R600,000.
Maintain a minimum average of 60% in their coursework to retain funding.
Be registered for full-time undergraduate or postgraduate studies at a public university or TVET college.

What Does The Loan Cover?

The NSFAS loan covers a range of essential educational expenses, similar to the NSFAS bursary. The loan includes:

Tuition fees
Registration fees
Accommodation
Transport
Learning materials
Other essential student needs

NSFAS will utilize the same disbursement channels used for bursary recipients, ensuring a smooth and efficient process for students receiving loan funding.

Conclusion

With the release of the NSFAS Loan Scheme, many students who previously struggled to finance their education now have a chance to succeed in their academic journeys. The announcement of funding decisions will bring relief to those who qualify, especially in high-demand fields like STEM. As we approach the final release date of September 5, 2024, students can look forward to more clarity on their financial aid status, giving them the opportunity to focus on their studies without the burden of financial uncertainty.

NSFAS News

When We Can Apply For NSFAS In 2025

Published

1 day ago

September 15, 2024

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When We Can Apply For NSFAS. The National Student Financial Aid Scheme (NSFAS) is a beacon of hope for many students seeking financial support to pursue higher education in South Africa. As we look forward to the 2025 academic year, it’s crucial for prospective students to be aware of the application timeline and eligibility requirements to maximize their chances of receiving funding. Here’s everything you need to know about applying for NSFAS in 2025.

NSFAS Application Opening Date for 2025

The NSFAS application period for the 2025 academic year is set to begin on Tuesday, 17 September 2024. This is the key date when the application portal will open, allowing eligible students to submit their applications. It’s advisable to apply as early as possible to ensure your application is processed promptly and to avoid any last-minute issues.

Eligibility Requirements

Before diving into the application process, it’s important to determine if you meet the NSFAS eligibility criteria. Here’s a breakdown of the requirements:

Citizenship: Applicants must be South African citizens.
Institution Registration: You must be registered or planning to register at a public university or TVET college.
Household Income: Your household’s combined annual income must not exceed R350,000.
Academic Requirements: You should meet the academic requirements of the institution you wish to attend.
Previous Funding: You must not have previously received NSFAS funding.
Postgraduate Studies: NSFAS does not fund postgraduate studies. If you are looking for funding for a postgraduate course, consider applying through the National Research Foundation (NRF).

Who Does Not Qualify?

While NSFAS aims to support as many students as possible, there are specific groups who are not eligible for funding:

Household Income: Students from households with an annual income exceeding R350,000 are not eligible.
Existing Funding: Students who have already received full study funding from other bursary sources cannot apply.
Second Undergraduate Degree: If you already have an undergraduate qualification and wish to pursue a second one, you cannot apply.
Private Institutions: Students enrolled in private higher education institutions are ineligible.
Non-Approved Qualifications: If your qualification is not approved by the Department of Higher Education and Training (DHET) or is not SAQA accredited, you cannot apply.
Second Certificate: Students who have obtained a certificate qualification and wish to study for a second certificate are not eligible.

What Does NSFAS Cover?

NSFAS provides a comprehensive bursary package that includes:

Registration Fees: Full coverage of your registration fees.
Tuition Fees: Payment of your tuition fees.
Book Allowance: Financial support for purchasing books and other academic materials.
Accommodation: Coverage for accommodation or living expenses.

How to Apply

To apply for NSFAS funding for 2025, follow these steps:

Prepare Your Documents: Ensure you have all necessary documents ready, including proof of income, identity documents, and academic records.
Visit the NSFAS Website: Go to the official NSFAS website on 17 September 2024 to access the application portal.
Complete the Application Form: Fill out the application form with accurate information. Be sure to double-check all details before submitting.
Submit Your Application: Once you have completed the form, submit it through the NSFAS portal. You may need to upload supporting documents as part of the application process.
Track Your Application: After submission, monitor the status of your application through the NSFAS portal to stay updated on any additional requirements or next steps.

Conclusion

The NSFAS application for the 2025 academic year opens on 17 September 2024, and it’s essential for prospective students to prepare and apply early. Understanding the eligibility requirements and the details of what NSFAS covers will help you navigate the application process smoothly. By ensuring you meet the criteria and submitting a complete application, you can take a significant step towards securing the financial support needed to achieve your academic goals. Good luck with your application, and may your journey towards higher education be a successful one!