Nsfas Funding 2023

Nsfas Funding 2023

NSFAS Act

The National Student Financial Aid Scheme Act (Act 56 of 1999), which established NSFAS, also included TEFSA (Tertiary Education Fund of South Africa). TEFSA, which terminated operations in July 2000, served as the major non-profit organization in accordance with Section 21 of the Companies Act from 1993 to 2000. All loans that were previously recorded on TEFSA’s books were moved to NSFAS.l existing loans on the TEFSA books were transferred to NSFAS.

Financial Aid

Any student may apply for a bursary from NSFAS under the terms of the NSFAS Act, however the board may impose restrictions generally or with regard to a specific loan or bursary. As a reward for academic excellence, these conditions may include the application of a means test and the conversion of up to 40% of any loans.

It stipulates that NSFAS shall pay the loan or bursary amount “to the designated higher education institution,” as opposed to the applicant. Additionally, it permits NSFAS to engage into what is essentially an agency arrangement with colleges of further education and training (FET) or higher education institutions (HEIs), under the conditions of which they are permitted to:

• Manage bursaries given to institution’s students.
• Gather student loan and scholarship applications.
• Take into account and evaluate the applications in light of the standards set by NSFAS for the awarding of bursaries.
• After confirming that funds are available, award bursaries if the requirements are satisfied.
• Enter into a written agreement in accordance with the Act’s requirements and on the terms and conditions established by NSFAS with a borrower or bursar.

You can Download the NSFAS ACT 56 of 1999 here

Aim and Focus Nsfas

Our goal is to make NSFAS an efficient and effective provider of financial aid to students from low-income and working-class families in a way that is sustainable and encourages access to, and success in, higher education and training. This will help South Africa achieve its goals for its national and human resource development.

In accordance with the National Student Financial Aid Scheme, the National Student Financial Aid Scheme (NSFAS) was created (Act 56 of 1999).

The three unique components that make up the mission statement explain why NSFAS exists and how it affects its constituency:

• The NSFAS supports access to and success in higher education and training for students from low-income and working-class families who would otherwise not be able to afford to study.

• The NSFAS identifies eligible students, awards bursaries, and collects past student loan repayments

• To replenish the funds available for future generations of students.

External values towards our students and stakeholders:

1. ACCESSIBILITY: We create an environment that allows efficient, effective and direct access to NSFAS and the funding it provides to eligible students.

2. TRANSPARENCY: We are open and honest with all students and stakeholders.

3. AFFORDABILITY: We offer affordable solutions for students to study at public universities and TVET colleges.

4. RELIABILITY: We honour our commitments and strive to deliver on our mandate.

5. AUTHENTICITY: We protect our students and stakeholders by offering quality services and information.

Internal values towards our employees and the organization:

1. INTEGRITY: We act with integrity towards all stakeholders, and support clients that uphold the same values.

2. ACCOUNTABILITY: We take responsibility for our actions that drive performance management.

3. RESPECT: We treat all our staff members with respect and fairness.

4. INNOVATION: We strive to innovate in communicating with and serving students.

What does the bursary cover?

The amounts listed for housing, a living allowance, transportation, and educational materials must comply with the most recent DHET criteria that have been authorized.

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 institution) R7 500 per annum

• Living allowance R15, 000 per annum

• Book allowances R5200 per annum

• Incidental/personal care allowance R2900 per annum for students in catered residences

TVET

• Accommodation in an urban area R24,000 per annum

• Accommodation in an peri-urban area R18,900 per annum

• Accommodation in an rural area R15,750 per annum

• Transport (up to 40 km from institution) R7,350 per annum

• Transport R7000 per annum

• Incidental/personal care allowance R2900 per annum

Who Qualifies for Nsfas?

You qualify for a NSFAS bursary if you are a South African citizen who plans to study in 2023 or you are already studying at a public university or TVET college and you meet the following requirements:

• Who qualifies for NSFAS funding?

• All South African citizens

• All SASSA grant recipients qualifies for funding

• Applicants whose combined household income is not more than R350 000 per annum

• Person with 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.

Nsfas Funding 2023

Who should not apply?

• Students who have completed a previous qualification.

• Students with a combined household income of more than R350 000 per annum.

• Students who have already applied, qualified and received funding. They are automatically funded for the duration of their studies provided they pass their modules and meet the academic requirements.

Nsfas Application Dates

On-line applications for the National Student Financial Aid Scheme (NSFAS) 2023 will be accepted starting on September 28 and running through January 31. Therefore, before the deadline, everyone who wants to apply for NSFAS 2023 must plan and take into account the application dates.

What is required during the Application Process?

NSFAS may need more information from you to process your application, check what supporting documents are required and ensure that you have all the relevant information:

You will need the following to complete your NSFAS application:

• Your own cellphone number and email address

• Copy of your ID or birth certificate

• ID copies of parents, guardian or spouse (If applicable)

• Your proof of income or 1 year’s IRP5 (if applicable)

• Your parents, guardian or spouse’s proof of income

• If you are a SASSA grant recipient, no proof of income will be required

• Applicants with a disability must submit a completed and signed Disability Annexure A Form, click here to download

• An applicant who is recognised as a Vulnerable Child by the Department of Social Development must provide a completed and signed Vulnerable Child Declaration and Consent Form, click here to download.
  

Nsfas Funding 2023

What are the Ways I can Apply?

There are two methods that applicants can use to apply for financial aid at NSFAS.

1. When applying Online

• Go to www.nsfas.org.za

• Click on “myNSFAS” tab

• Click on “Register“

• Tick the box to allow NSFAS to verify your details

• Then enter your ID number on the field as it is stated on your South African Identity Document (ID)

• Type in your full names and surname as per your ID number

• Type in your current email address

• Confirm your email address

• Type in your cellphone number

• Create a password

• Confirm password

• Upload your ID Copy

• Click on register

• An OTP will be sent to the email and cell number provided (this OTP expires after 24 hours)

• Type in the OTP and click submit

• You have now completed your re-registration

• Click the APPLY tab to be directed to the online application form.

2. When you’re at the NYDA Centre

• At a NYDA location close by, complete an application.

• You will be guided through the application process by a NYDA facility employee, who will also provide you an application form to fill out.

• Use a black pen to complete the application form in CAPITAL letters, and sign it as necessary.

• Send your application and any required supporting papers (as listed below).

• Make sure the paperwork you submit is recent—no more than three months old—has your signature on the front, and has both.

• A bar-coded receipt card will be mailed to you.

Get started by creating a new account.

• Type in first names (as per ID number)
• Type in Surname (as per ID number)
• Type in your ID number (will your username)
• Type in your own Email address
• Type in your own Cellphone number
• Accept terms and conditions Tick the box provided, to allow NSFAS to check the information provided (compulsory)
• Create a Password, To (protect your account)

ID number, Names and Surname is validated against the Department of Home Affairs database. Only valid South African ID information will be accepted.

Nsfas Funding 2023

Contact us:

NSFAS Virtual Contact Centre

We are available to assist through the following channels:

Email: info@nsfas.org.za

Facebook:National Student Financial Aid Scheme

Twitter: @myNSFAS

Instagram: @myNSFAS

Account, Payment and Balance Enquiries

For queries regarding payments and balances:

Tel No.: 08000 67327

Email: collections@nsfas.org.za

For general, student and NSFAS Wallet enquiries

For all other queries regarding students:

Tel No.: 08000 67327

Email: info@nsfas.org.za

Physical Address

The Halyard, 4 Christiaan Barnard St, Cape Town City Centre, Cape Town, 8001

Vuvuzela Fraud & Corruption hotline

To submit information on fraud or corruption identified or witnessed:

Tel No.: 0860 247 653

Email: nsfas@thehotline.co.za

Fax2Email: 086 726 1681

SMS Call Back Number: 30916

www.thehotlineapp.co.za

www.thehotline.co.za

Outreach and Community Event Invites

For all queries regarding outreach and community event invites:

Email: outreach@nsfas.org.za

For the submission of legal documentation for the attention of the National Student Financial Aid Scheme

Email: legal@nsfas.org.za

Legal documentation not submitted and logged through this dedicated mailbox will be deemed invalid and will not receive timeous attention

Media

For all media related enquiries please contact:

Email: media@nsfas.org.za

Please be aware that the National Student Financial Aid Scheme (NSFAS) website was used to compile all the material on this page in order to assist you with the application process.

NSFAS RELATED LINKS

Nsfas Wallet
How to apply Nsfas
Nsfas Online application forms
Nsfas application status
nsfas documents needed
Nsfas Online Application Requirements
Nsfas Application Instructions
Nsfas application opening date
nsfas online application 2023-2024

For more info, kindly visit the main website