How Often Does Nsfas Fund

How Often Does Nsfas Fund

NSFAS was established according to the National Student Financial Aid Scheme Act (Act 56 of 1999) and incorporated TEFSA (Tertiary Education Fund of South Africa). From 1993 to 2000, TEFSA was the primary non-profit company in terms of Section 21 of the Companies Act and ceased to operate in July 2000. All existing loans on the TEFSA books were transferred to NSFAS.

The NSFAS Act enables any student to apply for a bursary from NSFAS but allows the board to impose conditions, generally, or in respect of a particular loan or bursary. Such conditions include the use of the means test and the loan conversion of up to 40 per cent of any loan as an incentive for academic success.

How often is nsfas funding

10 months

NSFAS allowances will be paid during the first week of each month over a period of 10 months.

The National Student Financial Aid Scheme (NSFAS) is a government student bursary scheme that receives its funding budget from and reports to the Department of Higher Education and Training.

NSFAS provides financial assistance in the form of bursaries to eligible students at public universities and Technical and Vocational Education and Training (TVET) Colleges in South Africa.

How to login to the MyNSFAS account

The registered students can access their MyNSFAS account by following these steps:

Go to www.nsfas.org.za
Click on MyNSFAS Account.
Input your username and password.
Login to MyNSFAS account.

MyNSFAS account status check

At this stage, you should have had your login details (account name and password) to access the MyNSFAS student portal. Follow the steps given to check your account status – notes on the progress of your grant application status are indicated.

Step 1: Visit the myNSFAS student portal
Step 2: Enter Your Email and Password in the field provided,
Step 3: Click on the Sign-in button to access your application status.

Verification of documents and account status

The verification of documents and account status can take a while because there are several bodies involved in the checking. But, it should be complete before the new academic year starts. Here are the meanings of the NSFAS application status:

Application Submitted: Your application has been loaded onto the system successfully.
Filtering: The system checks if you are a returning student and whether you have any previous qualifications.
Validation: Conduct third-party checks with SASSA and the Department of Home Affairs.
Evaluation: Verify all the documents you have submitted during your application.
Funding Eligibility: verifying your household financial status that was declared in your application.
Awaiting Academic Results/Admission: checking your academic results and your institution’s admission status to ensure that you meet the requirements to be funded by NSFAS.
Awaiting Registration: receiving data from your institution to enable them to create a bursary agreement.
Signing Of Agreement: At this stage, you need to sign your bursary agreement so that NSFAS can disburse your allowances.
Payments: Your allowances are now being paid either through the NSFAS mobile wallet system or through your institution.