Student Financial Aid Scheme
“The National Student Financial Aid Scheme identifies eligible students, provides loans as well as bursaries. It also collects student loan repayments to replenish the funds available for future generations of students.” Sounds great, hey! So how can they help you?
“NSFAS exists to provide financial aid to qualifying students at public TVET (Technical Vocational Education and Training) colleges and universities.” Which essentially means that they offer access to higher education and training for students from poor and working class families who would otherwise not be able to afford to study.
What do you need to apply? First of all, you kick-off by visiting http://www.nsfas.org.za where you need to create a MyNFAS account. The registration process is straight-forward. They ask a couple pertinent questions to help them immediately identify whether or not you are a NFAS candidate but it must be noted that they are here to help the disadvantaged.
From there, you can apply for student aid for your chosen field! It’s not as simple as just sign up and away you go… There are certain criteria to be met in being granted student financial aid and your application will definitely go through an approval process.
In addition, they also offer bursaries not only for those who have and are excelling academically but also bursaries for disabled students. Another noteworthy bursary which they offer is The Funza Lushaka Bursary Programme, which is specifically geared towards giving bursaries to those who want to become teachers. NFAS is all about promoting education in South Africa and as long as it is managed correctly, it should be here as an integral part of social upliftment through education for years to come.
How do you replay your NFAS loan? NSFAS student loans are income-based, which means that repayment only starts when you start working. Which is fantastic because your hard earned tips while waiting tables won’t be used for repaying your student loan – only when you finish studying and working a 9-5 will you start repaying your loan.
Obviously, the NFAS needs help as does the SPCA so you can also give back and help build a greater future for South Africa by donating to the National Student Financial Aid Scheme, which can be done on their website.
RENT360 is an Accredited Member of NFAS and has hundreds of beds available, so contact RENT360 today if you are an NFAS student who’s looking for accommodation!