NSFAS How to onboard yourself, The National Student Financial Aid Scheme (NSFAS) is a South African government agency responsible for providing financial assistance to eligible students to help them access and afford tertiary education. Established in 1999, NSFAS plays a crucial role in ensuring that students from economically disadvantaged backgrounds have the opportunity to pursue higher education and acquire the skills and knowledge necessary for their personal and professional growth.
NSFAS offers various forms of financial aid, including bursaries and loans, to cover tuition fees, accommodation, textbooks, and other educational-related expenses. The aim is to alleviate the financial burden on students and their families and to promote access to higher education for students who might not otherwise be able to afford it.
Features and functions of NSFAS
Key features and functions of NSFAS include:
- Bursaries and Loans: NSFAS provides financial aid in the form of bursaries (grants that do not need to be repaid) and loans (which might need to be repaid, often with favorable terms).
- Eligibility Criteria: Eligibility for NSFAS funding is determined based on factors such as family income, South African citizenship, enrollment in public higher education institutions, and academic performance.
- Application Process: Prospective students need to apply for NSFAS funding through an online application process. This involves submitting personal and financial information as well as supporting documentation.
- Selection Process: Applications are reviewed, and funding is allocated based on the available budget and the eligibility criteria. Priority is often given to students from low-income households.
- Disbursement of Funds: Once approved, funds are disbursed to the student or directly to the educational institution, depending on the specific arrangements.
- Student Support Services: NSFAS also offers support services to students, such as counseling and guidance on financial management.
- Repayment: For students who receive loans, repayment terms are generally favorable and are linked to the student’s future income. Repayments help sustain the NSFAS funding pool and support future generations of students.
- Policy and Advocacy: NSFAS contributes to discussions on education policy, equity, and access to higher education for all South African citizens.
How to onboard yourself
- You will receive an SMS with a link to register
- Click on the link
- Enter your ID number
- Enter your address details, select a security question and provide a unique answer to secure your log in details
- Capture a clear image of your ID
- Capture a clear image of your ID under your chin
- You will receive an approval SMS with your account number
- Collect and active your NSFAS bank card at your campus
Reminder to visit nsfas.org.za now and check your institution on the list, select ‘Register here’ and proceed to onboard yourself. Lets spread the word and encourage those students who still need to onboard to complete the onboarding process to receive allowances.