Who Qualifies Nsfas Bursary
Who Qualifies Nsfas Bursary
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.
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 a disability: Combined household income must not be more than R600 000 per annum
- Students who started studying before 2023 and whose household income is not more than R122 000 per annum.
what’s covered by an NSFAS loan:
Technical and vocational training institutions are slightly different and incur different allowances for students.
- Accommodation: In an urban area this amount totals R24 000 a year, in a peri-urban area (locations based between the city centre and the outskirts of a central town) the budget is R18 000 per annum and lastly an allowance of R15 000 is allocated for students living in a rural area.
- Transport is covered, again up to 40km from an institution and the budget amounts to R10 000 per annum.
- In addition, there is a personal care allowance which amounts to the same budget set out for universities, at R2 750 per annum.
- There is also a personal care budget which amounts to R2 850 p/a for “students in catered residences”.
How to Apply for NSFAS Online 2023
If you would like to apply for NSFAS 2023, follow the steps outlined below:
- You have to visit the NSFAS website: www.nsfas.org.za online
- Then, you have to click on the “myNSFAS” tab
- After that, you create your myNSFAS account
- After creating myNSFAS account, you then have to click on the “Apply” tab
- Answer the following questions you see on your screen
- Update all your personal information
- Upload all the required supporting documents
- Lastly, Click on “Submit” to send your application for review.
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