nsfas debt collectors

nsfas debt collectors

nsfas debt collectors

nsfas debt collectors

If you were funded by NSFAS as part of a loan scheme and are now looking to repay your loan, here are some options. NSFAS helps South African students pay for their higher education.

Students who got an NSFAS loan before the president’s declaration of free education in December 2017 must repay the loaned amount in accordance with the signed loan agreement form. If you started funding with NSFAS in 2018 or later, you will have received a bursary and will not be required to repay NSFAS.

You will only start repaying your loan once you have a salary of  R30 000 or more per year. No need to worry as the repayments are worked out at a rate that will not place a great burden on you and is based on your salary.

40% of a general loan is converted into a bursary if you pass all of the courses you were registered for in that year.

If you applied at your institution’s Financial Aid Office to be on the NSFAS Final-Year Programme, you will have your final-year loans converted into a 100% bursary if you pass all of your final-year courses and qualify to graduate.

Ways To Pay

Debit Order

If you don’t want to worry about remembering to pay your NSFAS loan every month, this is a good option for you. Just complete the electronic debit order form and submit it. To find the NSFAS debit form, click here. Complete this form and email it back to collections@nsfas.org.za.

Electronic Funds Transfer (EFT)

If you would like to do an EFT each month these are the NSFAS bank details.

  • Name of Account: NSFAS
  • Branch Code: 210554
  • Bank: First National Bank
  • Account Number: 500 600 28203
  • Please use your ID Number (6711165000000) as a reference when making payments

Know also nsfas helpline

Should you bank with Standard Bank, Capitec, FNB or Absa, NSFAS is added as a predefined beneficiary and you can then just  look for “NSFAS” in their list of beneficiaries.

Salary Deduction

Your employer can make deductions from your income and pay it over to NSFAS. Print and complete the form and submit to your employer.

NSFAS provides funding for higher education studies to South African students.

Very Useful Links

nsfas bursary 2023-2024
For more information on nsfas click here

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