The National Student Financial Aid Scheme (NSFAS) is calling on all former loan recipients to repay their outstanding balances. These NSFAS repayments are crucial for the sustainability of the bursary programme and ensure continued access to quality education for future generations.
NSFAS provides comprehensive bursaries and student loans to deserving learners enrolled in approved courses at universities and TVET colleges. The funding not only includes money for tuition and registration fees but also includes several allowances for food, accommodation and learning materials.
Changes to NSFAS Funding
Before 2018, all NSFAS funding operated as a loan scheme, requiring full repayment after graduation. In 2018, NSFAS transitioned to a bursary model for qualifying students. However, those who received loans before 2018 are still obligated to repay them.
Repaying your NSFAS loan, no matter the amount directly contributes to ensuring future students can benefit from this programme. Every payment helps pave the way for a brighter future where quality education is accessible to all South Africans.
NSFAS is committed to recovering outstanding funds. This includes recent efforts like the acknowledgement of debt agreements signed with individuals who received funding without meeting eligibility requirements.
New Loan Scheme for the Missing Middle
In 2024, NSFAS missing middle student loans were launched as part of the Comprehensive Funding Model in January by Higher Education Minister Blade Nzimande.
These loans are available to students who do not qualify for NSFAS bursaries and have a household income between R350,000 and R600,000. Students who still fall below the R350,000 household income threshold can still apply for NSFAS bursaries.
