When to Apply for NSFAS 2019?
The applications cycle for 2018 NSFAS funding was open from 1 August to 30 November 2018. Students in need of financial aid who have not applied during this period will be required to contact their TVET College or public university for assistance.
Do i have to apply if i was funded 2018?
All students who are funded by NSFAS in 2018 need not apply again for 2018 as they will be automatically funded by NSFAS for the next academic year/semester, provided they pass their modules and meet the progression requirements of the course and institution. NSFAS students who received a NSFAS loan in 2018will receive a bursary in 2019if they meet the above requirements
Does it fund postgraduates?
only accepts postgraduate applications for the following postgraduate qualifications:
1. B-Tech Architecture/Architectural Technology
2. B Tech – Biokinetics/Biomedical Technology/Biotechnology
3. Postgraduate Certificate in Education
4. Postgraduate Diploma in Accounting, and
Which institutions are covered?
will only provide financial assistance to students who have applied and have been accepted at public universities and TVET colleges. Students who intend to study at private institutions will not be assisted by NSFAS.
Can i apply if i am disabled?
Yes. Students with disabilities are encouraged to apply for financial assistance. NSFAS provides special disability funding to all approved students with disabilities at any of the 26 public universities or 50 TVET colleges.
NSFAS understudy advances are pay unexpected, which implies that reimbursement initiates when you begin working. NSFAS will send you articulations to enable you to monitor the amount you owe. It is your lawful obligation to stay in contact with NSFAS and to advise us of any difference in address and contact points of interest.
How are reimbursements computed?
Reimbursements of your understudy advance depend on the pay that you gain, and begin once your compensation is R30 at least 000 every year. The reimbursement sum begins at a figuring of 3% of your yearly pay, expanding to a greatest of 8% when your pay achieves R59 at least 300 every year. For instance, you will reimburse R900 on a pay of R30 000 a year, or R75 every month. Once your yearly compensation achieves R59 300 your reimbursement will be R4 744 a year or R395 a month. You can pay more than this, with the goal that you can pay off your credit off quicker, and diminish the measure of intrigue you will be charged on your advance.
Premium is charged at 80% of the repo rate, which is the repurchase rate at which the Reserve Bank loans to business banks. NSFAS will keep on charging enthusiasm on every single remarkable adjust, making it basic that you begin reimbursing your advance as quickly as time permits. The loan fee is set toward the start of each monetary year (April).
How would you guarantee that understudies pay back the cash?
Understudies sign a legitimately restricting credit assention contract to reimburse their advances. NSFAS likewise works with outsider associations (e.g SARS to find NSFAS recipients who are utilized and procuring more than R30 000 every year and make installment game plans.
What amount do understudies owe, all things considered?
The sum owed shifts, as a few understudies may be supported for just a single year while others might be subsidized for their entire capability. A few understudies owe R10 000, others owe R150 000.
What amount of the advance reimbursement helps with financing different understudies?
Each penny of an advance reimbursement goes towards helping different understudies with subsidizing.
Can NSFAS still flourish while conveying unpaid credits?
NSFAS gets yearly designations from government through the financial plan of the Department of Higher Education and Training to give money related guide to understudies. This is then supplemented by the advances paid back by understudies.
What number of understudies pay back every year?
Around 84 500 understudies pay back their understudy advances every year, making complete reimbursements an expected R45 million a month, or R540 million a year.
What amount of time do understudies need to pay back their advances?
No time confine is given for reimbursement, since this is controlled by the pay of the indebted person, and his or her capacity to reimburse. The individuals who are jobless are not anticipated that would reimburse.