nsfas payment dates 2023-2024

nsfas payment dates 2023-2024

nsfas payment dates 2023-2024

nsfas payment dates 2023-2024

The National Student Financial Aid Scheme Act (Act 56 of 1999) created NSFAS, which included TEFSA (Tertiary Education Fund of South Africa). TEFSA was the major non-profit business in terms of Section 21 of the Companies Act from 1993 to 2000, and it terminated operations in July 2000. On TEFSA’s records, all existing loans were transferred to NSFAS.

Their objective is to transform NSFAS into a sustainable provider of financial aid to students from poor and working-class households, promoting access to and achievement in higher and further education and training in order to achieve South Africa’s national and human resource development goals.

The mission statement consists of three parts that explain why NSFAS exists and how it affects the constituency:

  • NSFAS exists to provide financial aid to eligible students at TVET colleges and public universities;
  • NSFAS identifies eligible students, provides bursaries and collects past student loan repayments to replenish the funds available for future generations of students; and,
  •  NSFAS supports access to, and success in, higher education and training for students from poor and working-class families who would otherwise not be able to afford it.

When will Nsfas make a payment?
Over the course of ten months, NSFAS allowances will be paid the first week of each month.

What is the amount of money that Nsfas gives to TVET students?

You might be wondering what NSFAS allowances TVET College students receive and what else NSFAS covers. Here’s the answer to your question. Every NSFAS-funded student receives a personal allowance of R2 900 each year.

Who qualifies for NSFAS funding?

  • All South African citizens
  • All SASSA grant recipients qualify for funding
  • Applicants whose combined household income is not more than R350 000 per annum
  • A person with a disability: Combined household income must not be more than R600 000 per annum
  • Students who started studying before 2018 whose household income is not more than R122 000 per annum.

Who should not apply?

  • Students that have completed a previous qualification.
  • Students with a combined household income of more than R350 000 per annum.
  • Students who have already applied, qualified and received funding. They are automatically funded for the duration of their studies provided they pass their modules and meet the academic requirements.
  • Foreign students (any student who is not a South African citizen).

HOW TO APPLY

  1. To begin, you must create your myNSFAS account
  2. After that, you click the Apply tab
  3. Update all your NSFAS online Application 2022-2023 information.
  4. Upload your supporting documents
  5. Submit your application by clicking on the “SUBMIT” button

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