The National Student Financial Aid Scheme (NSFAS) is set to process payments to institutions of higher education.
Starting from this Friday, 8 April 2022, NSFAS will issue payments allowances to deserving students. This is good news for all students who are qualified to study but can’t able to afford to pay their study fees.
In a statement, the financial aid scheme said, “An official communication has been sent to all institutions on the allowance payment process. The institutions that have complied with 2022 approved NSFAS Eligibility Criteria and Conditions for Financial Aid will receive payment from NSFAS.”
“The communique from NSFAS further requests institutions to abide by the funding rules set out in the NSFAS Eligibility Criteria and Conditions for Financial Aid when disbursing funding to students,” NSFAS adds.
“NSFAS can confirm that it has since received the first tranche of its budgetary allocation for the first quarter of the financial year. The Scheme will thus be able to start processing payments to institutions and paying student allowances from Friday, April 08, 2022” NSFAS Spokesperson, Mr Kagisho Mamabolo.
To qualify for financial aid, students must meet the following minimum requirements:)
- You are a South African citizen;
- Your combined annual household income does not exceed R350,000 per annum;
- You are a SASSA grant recipient;
- You are registering for the first time for an undergraduate qualification at a public university or you are registered at a Tvet college for one of the National Certificate Vocational or report 191 programmes;
- You are applying to study at a public university or Tvet college for a qualification;
- You are an already registered university student with an annual household income of less than R122,000 per year;
- You have passed Grade 9 and 10 to receive NSFAS funding to study at a Tvet college;
- You have passed Grade 12 to receive NSFAS funding to study at a university.