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Can You Borrow Money From NSFAS?



Can You Borrow Money From NSFAS?

Can You Borrow Money From NSFAS? In South Africa, accessing funds for higher education can often be a daunting task for many students. The National Student Financial Aid Scheme (NSFAS) plays a pivotal role in providing financial assistance to eligible students across the country. However, there’s often confusion surrounding whether NSFAS offers loans that students can borrow.

NSFAS Bursaries vs. Loans:

It’s important to distinguish between NSFAS bursaries and loans. NSFAS bursaries are awarded to students based on financial need and academic performance, and they do not need to be repaid.

These bursaries cover tuition fees, accommodation, and allowances for books and other study-related expenses. On the other hand, NSFAS loans are funds that students borrow and are expected to repay after completing their studies.

Can You Borrow Money From NSFAS?

Yes, A NSFAS loan is a loan you borrow from NSFAS for the purpose of funding your studies at any South African public university or TVET institution. NSFAS does offer loans to eligible students in certain circumstances.

These loans are intended to supplement the bursary funding provided by NSFAS and are aimed at covering additional expenses such as transportation, personal expenses, and other costs not covered by the bursary.


However, it’s important to note that NSFAS loans are subject to specific terms and conditions, and not all students may qualify for them.

Eligibility Criteria for NSFAS Loans

To qualify for an NSFAS loan, students must meet certain criteria set forth by the scheme. While eligibility criteria may vary, some common requirements include:

  1. Financial Need: Students must demonstrate a financial need for additional funding beyond the NSFAS bursary.
  2. Academic Progress: Applicants must maintain satisfactory academic progress to remain eligible for NSFAS loans.
  3. South African Citizenship: Only South African citizens are eligible to apply for NSFAS loans.
  4. Enrollment at Accredited Institutions: Students must be enrolled at accredited public universities or TVET colleges in South Africa.
  5. Compliance with NSFAS Policies: Applicants must comply with all NSFAS policies and regulations regarding the application and repayment of loans.
See also  NSFAS Application Apply Online 2023-2024

Application Process for NSFAS Loans

Students interested in applying for NSFAS loans should follow the prescribed application process outlined by NSFAS. This typically involves completing an online application form, submitting required documentation, and meeting application deadlines.

It’s crucial to provide accurate information and ensure all necessary documents are included to avoid delays or rejection of the loan application.

Repayment of NSFAS Loans

NSFAS loans are typically repayable upon completion of the student’s studies and entering the workforce. Repayment terms and conditions vary, but NSFAS aims to make loan repayment manageable for graduates.

Repayment amounts are based on the graduate’s income and are subject to interest charges, although interest rates for NSFAS loans are generally lower than those of commercial loans.



While NSFAS primarily offers bursaries to financially needy students, it also provides loans to eligible individuals who require additional financial assistance to pursue their tertiary education.

By understanding the options available and meeting the eligibility criteria, students can access the necessary funding to further their studies and achieve their academic goals.

However, it’s essential to approach NSFAS loans responsibly and ensure timely repayment to support future generations of students in need.

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