NFASA Loans VS Bursary Programs: Which One Is Best In Aiding South African Students Financially?
Education is in the heart of most South African citizens, this is obvious with the massive infrastructure and human resources the education sector currently boasts.
Generally, basic education in South Africa is easy to acquire with most provinces having enough schools, however, some students face financial challenges moving from basic school into high school and even face more severe financial issues when it comes to tertiary education.
Most students turn to financial aid programs to fund their higher education there are two sources of financial aid for South African students, NSFAS and Bursary programs.
2019, as of 20 November 2019, NSFAS had received 365,922 applications for financial aid in 2020, compared to the 278,738 applications it had received the year prior.
What is NFASA All about?
The National Student Financial Aid Scheme (NSFAS) is a South African government initiative. It helps students achieve their academic dreams by providing financial support. NSFAS started in 1991 and has consistently expanded its programs to better support students each year.
NSFAS also manages various bursaries, including the Funza Lushaka Teacher Bursary for teaching students, the DHET Disability Bursary, and other bursaries from the Sector Education and Training Authorities (SETAs).
Purpose
NSFAS supports South African students who need financial help or have disabilities. It funds undergraduate and postgraduate studies at public universities and Technical and Vocational Education and Training (TVET) colleges. NSFAS believes in equal access to higher education for all learners, regardless of financial or physical challenges.
Take note: NFASA gives loans and also provides bursaries to students, for NFASA loans, you will have to pay back after your education, however, you do not pay back bursaries obtained from NFASA to aid your education.
Depending on your financial situation, NFASA will give you either a loan or support you with a bursary program, other institutions and companies across South Africa offer bursaries to students.
NSFAS Application for 2024
NSFAS aims to assist financially struggling learners who want to pursue higher education. Applicants can apply to any South African public university or TVET college to receive financial support.
Financial Support for UNISA Students
- Tuition Fees
- Books and Study Material Allowance
- Personal Care Allowance
Financial Support for Other Universities or TVET Colleges
- Accommodation
- Living Allowance
- Learning Material Allowance
- Personal Care Allowance
Additional Support for Students with Disabilities
- Tuition Fees
- Assistive Devices
- Accommodation
- Meals
- Transport
Eligibility Criteria
To qualify for NSFAS funding, you must meet the following criteria:
- Be a South African citizen.
- Aim to study or currently study at a South African public university or TVET college.
- Have a combined annual household income of less than R350,000.
- Preference is given to learners from needy families and those receiving SASSA grants.
- Learners with disabilities with a combined annual household income of less than R600,000 are also given preference.
Note: If you are already receiving funding and are continuing your studies, you do not need to reapply. Funding continues until you complete your qualification.
How to Apply Online for NSFAS
- Register or Re-register on myNSFAS:
- Go to NSFAS Website.
- Click on “myNSFAS”.
- Click on “Register”.
- Allow NSFAS to verify your details by ticking the box.
- Enter your ID number exactly as it appears on your ID document.
- Fill in your full name, surname, current email address, and cellphone number.
- Create and confirm a password.
- Upload a copy of your ID.
- Click “Register”.
- Receive OTP and Complete Registration:
- You’ll receive a one-time PIN (OTP) via email and SMS.
- Enter the OTP and click “Submit” to complete registration.
- Click the “APPLY” tab to start your online application.
Documents Required
Prepare certified copies of the following documents (not older than three months):
- South African ID or unabridged birth certificate.
- IDs of parents or guardians (death certificate if applicable).
- IDs of all household members.
- Proof of household income (payslip, appointment letter, SASSA grants, UIF, etc.).
- Latest academic transcript or exam results (not required for current Grade 12 students).
- University registration documents (if applicable).
- Travel and accommodation documents (if applicable).
- Proof of marital status (if applicable).
- Signed consent form by all members whose incomes are declared.
- Disability Annexure A Form (if applicable).
- Vulnerable Child Declaration (if applicable).
Important Dates
- Application Closing Date: 31st January 2024.
Check Your Application Status
Login to the myNSFAS portal to check your application status.
Contact NSFAS
- Postal Address: Private Bag X1, Plumstead 7801, South Africa
- Physical Address: 10 Brodie Road, House Vincent 2nd Floor, Wynberg, Cape Town 7700
- Tel: 0860 067 327
- Email: [email protected]
- Twitter: @myNSFAS
What are bursaries and what role do they play in South Africa’s education system?
In South Africa, a bursary is a financial award given by schools, universities, or other funding organizations to individuals or groups. It’s typically intended to help students who might otherwise be unable to attend. Some bursaries focus on encouraging certain groups or individuals to pursue education.
Across the nine provinces of South Africa, there are numerous Bursary programs available to aid students financially throughout the year.
Use the links below to access bursaries for your province
Again, numerous companies offer bursary programs, we have written on these bursaries, be low is a list of all available bursaries.
What are the differences between NFASA Loans and Bursaries?
NFASA Loans are supposed to be paid back while Bursaries are financial aids you do not have to pay back.
Finally, these financial aid programs are not compulsory, you apply for them and you still have the choice to reject offers. Analyze your financial situation to know which one will work best for you.