NSFAS Meaning 2023
Do I pay back NSFAS, NSFAS Meaning 2023
Do you want to know what NSFAS means in its entirety? Let’s begin. TEFSA was a part of the National Student Financial Aid Scheme Act (Act 56 of 1999), which formed NSFAS (Tertiary Education Fund of South Africa). From 1993 until 2000, TEFSA operated as the principal non-profit entity in accordance with Section 21 of the Companies Act before ceasing operations in July 2000. The NSFAS database now contains all loans that were previously documented on TEFSA’s books.
Under the principles of the NSFAS Act, any student may apply for a bursary from NSFAS; however, the board may impose limits generally or with respect to a specific loan or bursary. These terms may include the use of a means test and the conversion of up to 40% of any loans as a reward for academic performance. Read on for more information.
What NSFAS Bursaries Cover
NSFAS bursaries at colleges and universities pay for these things.
- Amounts indicated for 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 of R2900 per annum for students in catered residences
TVET
- Accommodation in an urban area is R24,000 per annum
- Accommodation in a peri-urban area is R18,900 per annum
- Accommodation in a rural area is 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
Documents Needed for NSFAS Applications
The following documents need to be certified copies, and they can’t be older than three months. The South African Police Service or the South African Post Office must certify your documentation. This also holds true if you are under 18 or above 18 but STILL DEPENDENT on your parent’s or guardian’s combined family income:
- a verified copy of your birth certificate or South African ID. A certified copy of your unabridged birth certificate must be provided if you are under the age of 18.
- Neither a smart ID card nor a green bar-coded ID is valid for 16-year-olds.
- IDs for the guardians or parents (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 installments, 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 Repay NSFAS
Before former President Jacob Zuma said in 2017 that disadvantaged students would receive free higher education, NSFAS bursaries were “loans” that needed to be repaid. Loan payments started as soon as the student found a job and earned R80,000 or more per year or more. If a student was unemployed, repayments were suspended until they got a job. Even if the student dropped out of school or didn’t graduate, the loan would still need to be repaid. As of 2019, all accrued “loans” from NSFAS that were made prior to 2018 must still be paid back.
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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