What does NSFAS stand for?
NSFAS stands for National Student Financial Aid Scheme. It is the acronym of the above words in order.
Just as the name is, it is an educational financial scheme to help applicants (potential students) who are or want to pursue various courses at public universities or TVET across the country.
Before one can be accepted onto the program, the applicant must have met all the minimum requirements some of which are stated below :
- Must be a citizen of South Africa.
- Applicant’s combined annual household income nit exceeding R350, 000.00.
- Qualified for undergraduate program in any public tertiary institution or TVET colleges across the country.
- Must a National Identity Document (ID) book.
Until 2018, the scheme used to be a loan where students were made to make repayment after their respective programs with interest rates.
However, after 2018 successful applicants are not required to pay back as it became a bursary.
But during the 2019/2020 academic year, due to the global pandemic leading to economic downturns which affected almost the country, NSFAS was cash-strapped.
Some have argued if things continue as they are, the government may not be able to sustain the scheme.
How Does this scheme assist students
We can say this is full sponsorship or scholarship for successful applicants as NSFAS covers almost everything from fees to accommodation.
Below, you find the exact cost or fees covered by the scheme :
- Tuition fee or cost with a cap
- Book allowance (subsidized)
- Accommodation cost (to be determined by the scheme)
- Food allowance (capped and determined nsfas)
- Transport allowance
- Registration fee
- Personal Care allowance.
Indeed, the nsfas scheme is assisting students in diverse ways to meet their financial constraints.
Read Also :
If your nsfas wallet is locked or blocked or you want to reset your password or username, click on the link below :
With the increasing unemployment rates in the country and social disparities between the rich and the poor, this is the best way to help lift some citizens out of abject poverty.
If you have applied for the NSFAS bursary scheme, you can click here to check your status.