No, NSFAS bursary students are not eligible to access the NSFAS loan. NSFAS provides both bursaries and loans to people needing financial assistance to access tertiary education. One question that has popped up is: Can NSFAS bursary students also access the NSFAS loan?
The National Student Financial Aid Scheme (NSFAS) introduced the Comprehensive Student Funding Model, which includes NSFAS loans for missing middle school students. NSFAS also offers the popular NSFAS bursary.
NSFAS provides comprehensive bursaries and student loans to deserving learners enrolled in approved courses at universities and TVET colleges. The funding not only includes money for tuition and registration fees but also includes several allowances for food, accommodation, and learning materials.
Many students have been wondering whether they will qualify for NSFAS loans if they are funded by the NSFAS bursary. In this article, we unpack this.
As a NSFAS bursary student, can I access the NSFAS Loan?
According to the Strategic Enablement Executive at NSFAS, Vuyokazi Mafilika, “The Loan Scheme is exclusively for the missing middle school students.”
Missing middle refers to those whose total household income comes to R350 000 to R600 000 per year. Should a student have qualified for a NSFAS bursary, this means that their annual household income was between R0 and R350,000.
If a bursary student has completed their qualification and desires to pursue postgraduate studies, they regrettably do not meet the current eligibility criteria.
Mafilika said that NSFAS recognizes that this represents a risk area that they will take into consideration and might then change.
However, should a NSFAS bursary student no longer qualify for NSFAS, they would then stand a chance at qualifying for the NSFAS loan.
Those students who have applied for the NSFAS bursary but were rejected due to exceeding the household income threshold will then be considered for the NSFAS loan.
NSFAS loan requirements
- Annual household income between R350,001 and R600,000
- Accepted to study at either TVET College or a public university
- Can apply in years 1, 2, 3, or 4.
- Must achieve an average of 60% in their course work to continue funding.
70% of those funded must be following STEM subjects, which may include commercial and entrepreneurial courses, with 30% for those studying humanities courses.
If students achieve more than 70% and finish within the prescribed time, of course, they can have 50% of the loan written off.
No, NSFAS bursary students are not eligible to access the NSFAS loan