Is Nsfas A Bursary Or Loan

Is Nsfas Funds A Bursary Or Loan

 

NSFAS is a bursary programme supported by the Department of Higher Education and Training for students who lack the resources to pay for their education and are unable to acquire bank loans, study loans, or other forms of financial aid.

 

Do you wish to study or are already studying at a public university or TVET college and come from a family with an income of R350 000 or less then the Nsfas bursary is here to support you?

 

Previously, NSFAS financial assistance came in the form of loans, which must still be repaid after you secure a job after finishing your education.
For that particular year/semester, 40% of the NSFAS funds were turned into a bursary if you passed all of your subjects.

 

This indicates that after you begin working, you will only have to pay back 60% of the bursary and not the full 100%.

 

 

Is Nsfas A Bursary Or Loan For Every Body

 

The Nsfas bursary is there for  all South Africans who fall under the following category:

 

• 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.

 

Read: Nsfas Bursary Requirements 2023

 

What Does The Nsfas Bursary Or Loan Cover

Apart from Nsfas paying for registration fees, tuition fees, learning materials and more, they also provide financial allowances to student to pay for the following:

 

UNIVERSITY STUDENTS:

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

 

TVET COLLEGE STUDENTS:

• Accommodation in an urban area R24,000 per annum
• Accommodation in a peri-urban area R18,900 per annum
• Accommodation in a rural area 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

 

How To Apply Nsfas 2023-2024

Follow the process below to apply online for the Nsfas:

• Visit NSFAS Application 2023 website: www.nsfas.org.za/apply-2023.

 

• Then, you click on the ‘myNSFAS’ tab.

 

• Create a myNSFAS account.

 

• Click on the ‘APPLY’ tab.

 

• Update your personal information.

 

• Answer the questions you see on the screen.

 

• Upload all the required supporting documents.

 

• Finally, click on submit

 

CONTACT NSFAS

 

For any queries related to this bursary programme, please contact NSFAS directly:

• Tel: 0860 067 327
• Email: info@nsfas.org.za