Will Nsfas Be Open in January 2022

Will Nsfas Be Open in January 2022

Will Nsfas Be Open in January 2022 | 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.

Financial Aid
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.
It provides for payment by NSFAS of the amount of the loan or bursary “to the designated higher education institution”, rather than to the applicant. It also allows NSFAS to enter into what is in effect an agency agreement with higher education institutions (HEIs) or further education and training (FET) colleges.

When nsfas is closing

When to Apply: NSFAS Application for 2022 will be opening on 1st November and close on 30th January 2022.

No Late Application.

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 2018 whose household income is not more than R122 000 per annum.

What does the bursary cover?

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, 000 per annum
Book allowances R5200 per annum
Incidental/personal care allowance R2900 per annum for students in catered residences