What is a student loan? A loan is money you borrow to cover tertiary studies. This loan has to be repaid.

What is NSFAS? The National Student Financial Aid Scheme (NSFAS) is a loan and bursary scheme operating in terms of Act 56 of 99 and funded by the National Department of Education. NSFAS has been established to assist academically deserving and financially needy students to achieve their goals at tertiary educational institutions of South Africa, with particular concern in overcoming barriers created by structural inefficiencies.

What does NSFAS offer?

• The means to obtain a tertiary education qualification
• Loans at low interest rates
• Loans without guarantees
• A reasonable repayment plan

• If you pass all the courses for which you have registered, you qualify for a 40% bursary.
• If you pass three quarters of the course, you qualify for a 30% bursary.
• If you pass half of the courses, you qualify for a 20% bursary.
• If you pass one quarter of the course, you qualify for a 10% bursary.
• If you pass none of the courses, you do not qualify for a bursary.

Who qualifies for a NSFAS loan? You qualify for a NSFAS loan if you are:

• A South African citizen
• Registered as a South African university or university of technology
• An undergraduate, studying for a first tertiary educational qualification, or
• Studying for a second tertiary qualification, if this is necessary to practice in your chosen profession (e.g. LLB or HDE)
• Able to demonstrate potential for academic success
• Financially needy
• NOTE: You will, however, be expected to make your own family contribution towards the total costs of your studies. How much money do you get? There is a minimum award and a maximum award, which is determined annually by NSFAS. Please enquire at the Financial Aid Bureau for the current limit.