NSFAS Meaning 2024/2025

Do I pay back NSFAS, NSFAS Meaning 2024/2025

NSFAS Meaning 2024/2025

Are you interested in knowing what the Full meaning of NSFAS is? here we go. The National Student Financial Aid Scheme Act (Act 56 of 1999), which established NSFAS, also included TEFSA (Tertiary Education Fund of South Africa). TEFSA, which terminated operations in July 2000, served as the major non-profit organization in accordance with Section 21 of the Companies Act from 1993 to 2000. All loans that were previously recorded on TEFSA’s books were moved to NSFAS.

Any student may apply for a bursary from NSFAS under the terms of the NSFAS Act, however, the board may impose restrictions generally or with regard to a specific loan or bursary. As a reward for academic excellence, these conditions may include the application of a means test and the conversion of up to 40% of any loans. to know more please read below.

What NSFAS Bursaries Cover

NSFAS bursaries at colleges and universities pay for these things.

• Amounts indicated of accommodation,
• living allowance,
• transport and
• Learning materials must be in compliance with the most recent DHET rules that have been authorized.

Who Qualify For NSFAS Bursary

• A South African citizen;
• Financially needy as determined by the NSFAS means test;
• Academically deserving and can demonstrate the ability to succeed in your studies; and
• If you have applied or are applying to study at a public university or TVET College for a qualification.

UNIVERSITY

• Accommodation
• As per the actual costs charged by the university (costs for private accommodation must not exceed costs for university residence)
• Transport (up to 40 km from the institution) R7 500 per annum
• Living allowance R15, of 000 per annum
• Book allowances R5200 per annum
• Incidental/personal care allowance R2900 per annum for students in catered residences

TVET

• Accommodation in an urban area R24,000 per annum
• Accommodation in a peri-urban area R18,900 per annum
• Accommodation in a rural area R15,750 per annum
• Transport (up to 40 km from the institution) R7,350 per annum
• Transport R7000 per annum
• Incidental/personal care allowance R2900 per annum

Required Documents For NSFAS Applications

The following papers must be in certified copy form and cannot be older than three months. Your documentation needs to be certified by the South African Police Service or the South African Post Office. This also applies if you are under the age of 18 or over the age of 18 but STILL DEPENDENT on the joint household income of your parents or guardians:

• a certified copy of your South African ID or birth certificate. If you are under 18, you must provide a certified copy of your unabridged birth certificate.
• 16 years old and without a smart ID card or green bar-coded ID.
• IDs for the parents or guardians (death certificate)
• IDs for the parents or guardian (and a death certificate if applicable).
• IDs for each person living in your house
• If you are working, you may use your pay stubs or appointment letters as evidence of your own or your guardian’s annual household income. (This is applicable to all forms of employment and all sources of income for all members of the household, including any awards from SASSA and Unemployment Insurance.
• any retirement, life, disability, or other benefits paid as a lump payment or in regular instalments, or the Unemployment Insurance Fund (UIF).
• a certified copy of your most recent transcript or set of test results. (If you’re currently in Grade 12, you don’t have to turn this in.)
• records from the university’s registrar (if applicable)
• travel and lodging documentation (if applicable)
• Download the consent form, complete it, and have each applicant who has declared income sign it.
• If you have a disability, download and complete the Disability Annexure A Form.

Do I pay back NSFAS

NSFAS bursaries were “loans” that had to be repaid before former President Jacob Zuma announced in 2017 that underprivileged students would receive free higher education. Once the student obtained employment and reached an annual income of R80,000 or more, loan payments commenced. Repayments were postponed if the student was unemployed until they found work. The loan would still need to be paid back even if the student dropped out of school or did not earn their degree. All accrued “loans” from NSFAS made before 2018 must still be repaid as of 2019.

Which Institutions Does NSFAS Accept

The following 50 TVET colleges or the following 25 public universities accept applications for NSFAS funding in 2023:

Universities

• Cape Peninsula University of Technology
• Central University of Technology
• Durban University of Technology
• Monash University
• Nelson Mandela Metropolitan University
• North West University
• Rhodes University
• Stellenbosch University
• Tshwane University of Technology
• University of Cape Town
• University of Fort Hare
• University of Johannesburg
• University of KwaZulu-Natal
• University of Limpopo
• University of Pretoria
• University of South Africa
• University of the Free State
• University of the Western Cape
• University of the Witwatersrand
• University of Zululand
• Vaal University of Technology
• Walter Sisulu University

TVET Colleges:

• Boland College
  Buffalo City College
• Capricorn College
• Central Johannesburg College
• Coastal KZN College
• College of Cape Town
• Eastcape Midlands College
• Ehlanzeni College
• Ekurhuleni East College
• Elangemi College
• Esayidi College
• Ethekwini College
• False Bay College
• Gert Sibande College
• Ikhala College
• Ingwe College
• King Hintsa College
• King Sabata Dalindyebo College
• Letaba College
• Liphalale College
• Lovedale College
• Majuba College
• Mnambithi College
• Nkangala College
• Northern Cape Rural College
• Northern Cape Urban College
• Northlink College
• Orbit College
• Port Elizabeth College
• Sekhukhune College
• South Cape College
• South West Gauteng College
• Tshwane North College
• Tshwane South College
  Umfolozi College
• Umgungundlovu College
• Vhembe College
• Vuselela College
• Waterberg College
• West Coast College

NSFAS Contact Details

Post: Private Bag X1, Plumstead 7801, South Africa
Address: 10 Brodie Road, House Vincent 2nd Floor, Wynberg, Cape Town 7700
Tel: 0860 067 327
Email: info@nsfas.org.za
Twitter: @myNSFAS

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