If you’ve been looking for funding for your studies, you may have come across the the term NSFAS. You may be wondering: what is NSFAS? Let’s take a look at what NSFAS is and what it can do for you.
NSFAS: What is NSFAS?
NSFAS, or National Student Financial Aid Scheme, was established according to the National Student Financial Aid Scheme Act of 1999 and incorporated Tertiary Education Fund of South Africa (TEFSA), which stopped operating in 2000.
The NSFAS Act allows students to apply for financial aid, be it a bursary or student loan. These applications do, however, come with certain conditions: each student undergoes a “needs test” to determine how much financial aid they require and if they are eligible. This system is being changed currently to make financial aid available to the missing middle.
Paid to the higher education institute
Under the NSFAS Act, the bursary or loan is paid directly to a student’s place of learning, rather than to the student. This also allows NSFAS to engage with universities and keep track of those who receive financial aid and their academic progress.
NSFAS makes financial aid available to students in the form of bursaries and student loans. This allows students in need to finance their studies at either university or a TVET college and so further their education and career prospects.
Click here to visit the NSFAS website.