The National Student Financial Aid Scheme (NFSAS) has come up with the NSFAS student Loan to help pupils who qualify to study in a higher education institute (Public University or TVET College) but don’t have enough money to pay any education fees.
If you are accepted into a post-school education and training program at a public TVET College or public University, and your family has a low income, the NSFAS Student Loan can help you with fees for your education, including registration fees and tuition.
NSFAS Student Loan Qualifying Criteria
To qualify for an NSFAS Student Loan you should meet the requirements that follow
- Must have Valid Identification documents
- Household Salary in years must be between R350 000 and R600 000
- Accepted to postgraduate or under post-graduation studies at a TVET College or Public University
- Applicants must be in years 1 to 4
- If you qualify must have a loan agreement signed
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Documents Required for NSFAS Student Loan
The following documents will be required for transparency when applying for an NSFAS Student Loan
- South African ID Copies (copies of parents ID’s or Guardian)
- Must also have your own ID Copy
- Provide a copy of proof of income: Payslip, bank statement and 1-year tax certificate (IRP5)
- Have a completed Consert Form that you download on the NSFAS website
Repayment Condition
With the NSFAS Student Loan, you can start to repay the loan once you have finished your studies and have a stable source of income like a job and you do repayments directly on the NSFAS website
How to Apply for the Student Loan
You can apply for the NSFAS Student Loan using the NSFAS website and applying for credit is easy you are just required to complete 3 easy steps on the online application form, firstly you will need to create a profile on the portal/website if you already have it just log in then Apply for the loan on the form you will be required to provide personal information relating to the criteria and documents mentioned above, lastly, you must submit your loan application to NSFAS.
The National Student Financial Aid Scheme (NSFAS) has a lengthy turnaround time which can take a month or two but applying earlier and waiting is better than not applying at all, education is key.
ALSO READ: How To Apply for RCS Loan Of Up To R250 000
Contact Details
If you want more information about the NSFAS Student Loan you can use the following details
- Phone: 08000 67327
- WhatsApp: 078 519 8006
- Email: info@nsfas.org.za
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