In case you missed the good news: students who had not yet applied for funding through the National Student Financial Aid Scheme (NSFAS), now have more time to do so after an agreement was reached with the South African Union of Students (SAUS) to extend the application period.
The Board and Executive members of both entities met to discuss the state of readiness for the beginning of the 2024 academic year. It was agreed during the meeting that applications should be extended to the 15th of February 2024.
“Students who have already applied for the NSFAS bursary scheme need not to submit a new application for the student loan scheme. All students who did not meet the bursary scheme eligibility criteria, however, meet the loan scheme eligibility criteria, will be automatically offered a loan for their consideration,” the joint media statement reads.
Last month, the spokesperson for SAUS, Asive Dlanjwa, said that the Minister of Higher Education, Dr Blade Nzimande, did not inspire any confidence after he held a media briefing on the state of readiness for the 2024 academic year. In the said briefing, the Minister was urging NSFAS to finalize outstanding payments to all students so that they can apply for this year’s studies.
On the 1st of February 2024, NSFAS reported that it had received 1,745,226 applications for this academic year.
According to the joint media statement, prospective loan scheme applicants can apply through an online application form following three guided steps which are:
- Create a profile; 2. Apply and 3. Submit the application.
The application form will be accessed on the NSFAS website on www.nsfas.org.za. In order to qualify for the loan, students should meet the following criteria:
- Students whose annual household income is between R350 000-R600 000;
- TVET and University (public) students;
- Undergraduate or postgraduate students;
- 70% Science, technology, engineering and mathematics (STEM) programmes (which may be adjusted to include commercial programmes that are in demand in the labour market or entrepreneurial programmes);
- 30% Social Sciences programmes; and
- Students willing to sign a loan agreement.
In the same media statement, all applicants for both the bursary scheme and the loan scheme were reminded to submit a consent form that will allow for a verification process to take place with all third parties.
“The information is required to verify the employment status and income level of the parents, guardians, or spouses of the applicant. It is mandatory for applicants to download and upload a completed consent form on the NSFAS website, portal or mobile app,” it said.
2024 CURRENT APPLICATION STATISTICS – DATE 30 JANUARY 2024
- NSFAS has received 1 745 226 applications.
- Of the 1 745 226 applications received:
- 940 682 are provisionally funded.
- 269 915 are awaiting evaluations.
- 48 643 have been withdrawn by the student.
- 232 559 are in progress.
- 136 531 applications are on the NOT-STARTED status as applicants only created profiles and did not submit applications.
- NSFAS has rejected 102 201 applications.
- 1 093 appeals have been lodged so far.