The National Student Financial Aid Scheme (Nsfas) Board Chairperson, Ernest Khosa received 1,5 million applications for the academic year. Around 613,000 applicants are provisionally funded for the upcoming academic year.
To date, Nsfas has received 1,587,968 applications from prospective beneficiaries. A total of 613,909 applications have been provisionally funded, of which 338,320 are continuing-students and 275,589 are new applicants.
Applications for Nsfas funding for 2023 close on 31 January 2023.
Khosa revealed that applications are in different stages to verify student eligibility. This includes financial eligibility and verification of personal data.
These eligibility checks are done in collaboration with the Department of Home Affairs, the South African Revenue Service (SARS) and the South African Social Security Agency (Sassa).
More than 1,261 rejected applicants have submitted appeals. It was also revealed that 61,139 applications have been rejected due to not meeting funding criteria.
The bursary appeal application period will close on 20 February 2023.
They added that universities and TVET colleges will receive the final funding list by 6 February 2023.
New students who benefited must achieve a 50% progressive course credit to continue receiving funding, continuing students must achieve a 55% progressive course credit to continue receiving funding and returning students must meet ongoing academic criteria.
Khosa added that the N+ Rule for distance university students will be reviewed as of 2024 and Academic progression criteria will increase from 55% to 60% over time.
