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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.

 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.

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

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