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Students who qualify for student loans from the National student financial aid scheme are offered loans at low interest rates and do not require security or sureties. The emphasis is on results and in the event of a student attaining very good results, the scheme will even consider converting part of the student loan into a bursary. You only start repaying the loan once you are employed and the repayment amount is set as a percentage of your earnings with all repayments going to fund new student loans.

The NSFAS is all about getting results and awarding student loans to students who are committed to achieving results that are not in a position to fund their studies themselves or be assisted by family members.

What you need to do in order to submit an application for a NSFAS study loan.

You must be a South African Citizen and hold an SA identity document

You must have been accepted to a University or University of Technology

You must be able to demonstrate your ability and show a true desire to succeed in your chosen faculty

You must be in a position where funding your studies personally or through family assistance is not possible.

If you are driven to succeed and the only obstacle to you achieving your goals in life is the ability to afford to study further, are committed to making a difference in South Africa and have the determination to do whtever is necessary to achieve your goals, then the NSFAS may be the place for you to secure funding for your studies.

The NSFAS is not a bank, and students are appraised very carefully to ensure that the money is loaned to worthy students who are dedicated and have a desire to achieve.

First, apply at the educational institution where you are planning to study. Some institutions will issue you with an application for study together with an application for financial aid. You need to enquire from the institution about their processes and deadlines for both. Submit both applications to the institution and if you have any questions contact the Financial Aid Office (FAO) on campus who will:
Evaluate your ability to succeed in your chosen study direction. Advise you about study loans and help you with the student loan application. Explain how you’ll access the money and repay your student loan, importantly, decide whether you are financially needy of a study loan. Contact the NSFAS Call Centre on 021 763 3232 for more information.

Funding education with student financial aid