Will Nsfas Pay for January 2023

Will Nsfas Pay for January 2023

Will Nsfas Pay for January 2023

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 using 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 2023 will open on 1st November and close on 30th January 2023.
No Late Application.

 Which courses do NSFAS not fund?

  • Postgraduate qualifications
  • Part-time studies
  • Private institution courses
  • A second undergraduate qualification
  • Short courses

An NSFAS bursary will pay for your tuition fees but will also cover other things such as your registration, accommodation, transport, meals and other living costs.

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These are the requirements to be funded by NSFAS:

  • Must be a South African citizen
  • Must be registered or intending to register on a PLP, NC(V), or Report 191 program at a TVET College
  • Must have a household income below R350 000 per year
  • If you’re a person living with a disability, your household income must come to R600 000 or less
  • Returning students must demonstrate proven and accepted academic performance in line with the College’s progression policy or the progression prescriptions of the Bursary Rules and Guidelines
  • Must not be enrolling for a qualification that duplicates previous learning that was state-funded

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 of R2900 per annum for students in catered residences
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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

Who should not apply?

  • Students that have completed a previous qualification.
  • Students with a combined household income of more than R350 000 per annum.
  • Students who have already applied, qualified and received funding. They are automatically funded for the duration of their studies provided they pass their modules and meet the academic requirements.
  • Foreign students (any student who is not a South African citizen).

 

HOW TO APPLY

  1. Go to www.nsfas.org.za.
  2. Click on the “myNSFAS” tab.
  3. Click on “Register”
  4. Tick the box to allow NSFAS to verify your details.
  5. Then enter your ID number in the field as it is stated on your ID document.
  6. Type in your full name and surname as per your ID number.
  7. Type in your current email address.
  8. Create a password
  9. Click on apply Tab

HIGHLY RECOMMENDED:

Documents Needed to Verify Your NSFAS Funding Application

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