Young people who want to further their studies in 2024 can still apply for financial assistance. The National Student Financial Aid Scheme (NSFAS) board has extended the deadline for applications for student financial aid to 15 February 2023.
The decision was taken during a meeting between the NSFAS board and the South African Union of Students (SAUS). Both parties agreed that students who have already applied for the NSFAS bursary scheme need not submit a new application for the student loan scheme.
“All students who did not meet the bursary scheme eligibility criteria, however, meet the loan scheme eligibility criteria, will be automatically offered a loan for their consideration,” read the statement.
In order to qualify for the loan, students should meet the following criteria:
- Students whose annual household income is between R350,000-R600,000;
- TVET and university (public) students;
- Undergraduate or postgraduate students;
- 70% science, technology, engineering and mathematics (STEM) programmes (which may be adjusted to include commercial programmes that are in demand in the labour market or entrepreneurial programmes);
- 30% Social Sciences programmes; and
- Students willing to sign a loan agreement.
Those who want to apply, the application form can be accessed on the NSFAS website on www.nsfas.org.za.
