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The National Student Financial Aid Scheme (NSFAS) has urged students, who received funding, to sign their Loan Agreement Forms (LAFs) to avoid funding retraction.
NSFAS called on 63 558 students, who have not yet signed their LAFs and Schedule of Particulars (SOP), to do so at their respective universities and Technical and Vocational Education and Training (TVET) colleges as soon as possible, or before 31 May 2017.
NSFAS warned that affected students could possibly face retraction of NSFAS funding if they fail to honour their funding obligation, although they are approved for the 2017 funding.
NSFAS spokesperson Kagisho Mamabolo explained that the NSFAS terms and conditions states that the loan amount recorded in the loan agreement will be paid as a credit to the student account with the university, for the academic, residence, student levies and other similar cost of pursuing the course of studies for which the student is registered.
“No loan advance will be made unless the Loan Agreement has been signed. It is our responsibility, as stated in the National Credit Act 34 of 2005, that prior to entering into any credit agreement with a consumer, we must conduct a detailed financial assessment on behalf of the client.
“Now that we have done that, we are appealing to the students to do their part and sign the agreements for their own benefit. No credit agreement can be concluded without the signing of the agreement form and acceptance of the terms and conditions thereof,” said Mamabolo.
Mamabolo added that NSFAS ensures that students understand the risks, costs and obligations created by the financial assistance they are receiving, and therefore, “signing of agreement is compulsory and it is common practice for any institutions that provides financial assistance in South Africa”.
Mamabolo emphasised that NSFAS will not process any tuition payments for students who have not signed their agreements.
“All funded students are obliged to acknowledge that they understand the terms and conditions and the amount of funding stipulate in the LAF/SOP. However, funded students who are eligible for financial assistance will continue to receive funding (automatically) until they complete their studies, provided they achieve the 50% pass mark.”
To sign a LAF/SOP, a student can simply visit the NSFAS website www.nsfas.org.za, click on the SIGN YOUR LAF/SOP Link, and then enter an ID number into the search engine.
The details will appear on the screen. – SAnews.gov.za
The National Student Financial Aid Scheme (NSFAS) can confirm that by the 08th of February, 175 348 students have received financial aid to further their studies at any of the 26 public universities for 2017. This includes 67 875 first-entering students and 107 474 returning students. Although the NSFAS application closing date was 20th January, some universities are still in the process of concluding their examinations. We therefore expect these numbers of funded students to increase.
The Scheme worked tirelessly with the assistance of all the institutions of higher learning and the Department of Higher Education and Training, to ensure that the allocation of financial aid for first-time and returning students are allocated before the end of the academic registration period.
We have agreed with universities that while the allocation of grants to new students was a priority, the management of returning students must be coordinated to ensure that universities can immediately accept and register NSFAS returning students if they meet the following criteria:
- Received NSFAS financial aid in 2016;
- Satisfied the 50% module pass requirement for the 2016 academic year;
- Satisfy the N+2 completion requirement; and
- Signed their 2016 NSFAS agreement forms.
NSFAS has also communicated with at least 9 976 applicants whose applications were unsuccessful, as they did not meet the NSFAS financial eligibility criteria. Students who are unsuccessful may appeal by submitting the “Appeals Form” before a pre-determined closing date in order to be considered by the Appeals Committee. Details of the appeal can be found on the NSFAS website www.nsfas.org.za or 0860067327.
Have you been rejected by NSFAS? You can make an appeal, Click here to Download NSFAS Appeal Form for 2017
Appeals for New Applicants/First year students
First year students/New applicants who applied for funding from NSFAS and received a rejection outcome message/status are encouraged to appeal the funding decision outcome from NSFAS if they can justifiably prove that our funding decision outcome is inappropriate in light of their academic and financial eligibility.
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NSFAS is expected to fund more than 405 000 students this academic year. Are you in need of financial assistance to study at a tertiary institution? Apply for a National Student Financial Aid Scheme (NSFAS) study loan or bursary through the Financial Aid Bureaus at your tertiary institution or directly through the online application with […]
5 Important Changes NSFAS is Making for 2017 Share this:On social networks to help others find this important information. Thanks, read more below. The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explained in detail how the comprehensive model will work. There are a number […]
An important alert by NSFAS
NSFAS is expected to fund more than 405 000 students this academic year.
Are you in need of financial assistance to study at a tertiary institution? Apply for a National Student Financial Aid Scheme (NSFAS) study loan or bursary through the Financial Aid Bureaus at your tertiary institution or directly through the online application with the National Student Financial Aid Scheme.
NSFAS is a loan and bursary scheme funded by the Department of Higher Education and Training for those who do not have the financial means to fund their studies and / or cannot access bank funding, study loans or bursaries.
Application for a study loan should be made at the institution where you would like to study, or through the National Student Financial Aid Scheme for selected tertiary institutions
NSFAS has introduced a student centred application model that allows students studying at selected institutions to apply directly through NSFAS. Students are able to apply directly online ensuring that the application is received and completed. NSFAS will inform students on the progress of their applications by SMS and email. Allowances for food, accommodation, books and travel will be transferred by NSFAS directly to approved and eligible students. In this way NSFAS has the ability to maintain a relationship with a student from the time he/she applies for funding until he/she completes their academic cycle and repays the loan.
The following institutions were selected for the student centred model. Students who choose these institutions must apply for NSFAS funding directly through the NSFAS online application process.
The selected institutions are:
- Ekurhuleni East TVET College
- King Hintsa TVET College
- Motheo TVET College
- South Cape TVET College
- Umfolozi TVET College
- Durban University of Technology
- Nelson Mandela Metropolitan University
- Sol Plaatje University
- University of Mpumalanga
- University of South Africa and
- University of Venda
For all other institutions, please contact the Financial Aid Bureaus at your tertiary institution.
- Loans will be allocated subject to an applicant’s eligibility and the availability of funds.
- Loans and bursaries are not guaranteed.
Find out more about applying for financial assistance from the National Student Financial Aid Scheme (NSFAS), contact NSFAS on 0860067327 or alternatively contact the Financial Aid Bureaus at your tertiary institution.
Opening of the second phase of applications
After considering all the submissions by our stakeholders, NSFAS executive management decided that it was best to open the second and last application window of application for financial aid as follows.
- NSFAS will re-open for 2017 applications for all learners who have not applied during the 01 August – 30 November 2016 window period;
- Applications for students who wish to study at TVET colleges will open from the 09 January 2017 and close on 14 February 2017; and this is meant to coinside with release of matric results.
- Applications for students who wish to study at universities will open from 09 January 2017 and close on 20 January 2017.
Although NSFAS will accept paper applications, universities and TVET colleges are encouraged to assist students to submit online applications during these application periods. This will speed up the process of evaluation and funding to students.
We are calling on all young people who missed the first application phase this year and need NSFAS financial support, to take advantage of this second opportunity and submit their applications for financial assistance as soon as possible. Online applications can be done on the NSFAS website, while manual applications can be sent via fax, post or email, as with the recent application phase. This is now time to start collating all your supporting documents so that the applications process is smoother.
NSFAS would also like to that this opportunity to share important information with our students regarding the payment of allowances for their food, traveling, books, and private accommodation. NSFAS is rolling out the implementation of sBux, which is a cell phone banking solution that we have introduced to distribute funds directly to individual students for these allowances. Through sBux, a student will be able to access funds on his/her mobile phone, using a security pin and password to access his/her personal account.
This means that students who qualify for NSFAS loans or bursaries will receive allowances in the form of cell phone vouchers to pay for food, traveling, books and private accommodation. While NSFAS pays tuition fees directly to institutions, we will give allowances for these expenses directly to the students via their cellphones, using sBux. Students will be able to spend these vouchers at NSFAS-registered merchants who have signed up on the sBux programme.
Up to this stage, more than 3 334 merchant outlets have signed in on the sBux programme. These merchants include Shoprite, Boxer, Checkers, Spar, and USave outlets, all of which allow students to redeem their sBux vouchers and buy groceries. Students can also purchase books at registered book merchants using the same process.
Students who are accepted to sBux will receive an SMS welcoming them to sBux. They will follow the prompts and enter their ID number in order to be verified, following which they will receive a password. Two days later, funds will be available in their account for usage. The top 10 book suppliers are also registered in this platform. We will continue looking for ways to improve the disbursement of allowances to students.
We need to emphasise that, when we talk disbursement of the NSFAS allowances at 50 TVET colleges and 26 universities, we talking huge transactions and a one size fits all policy on this disbursement of allowances cannot be applicable due to the unique circumstances inherent within certain Institutions. This is also one of the most difficult spaces we are managing and we are trying our level best to ensure that our students are assisted without delays.
For example, in the TVET sector, where NSFAS pays for transport allowances for students who communte between home and the college, the absence of public transport service providers prevents NSFAS from using sBux to disburse travel/cash allowances to students – such as in the West Coast area.
Under these circumstances, normally the process would be that NSFAS will pay the College, and the College will apply the Bursary Guidelines on NSFAS to pay for transport through the local service providers of their choice. Note that this solution helps mitigate a drop in enrolment at this particular College.
For the university sector, some of the universities would formally request the NSFAS Board to delay the provision of sBux services. These requests, if made in time, are based on the submissions before the Board. However, these Institutions will be instructed to accredit their respective landlords at least by 31 May 2017.
If Institutions have failed to specifically request (in writing) a deferral of sBux until 2018, sBux will be used to disburse all allowances at these Institutions in 2017.
Our students will also make use of sBux vouchers to buy prescribed books and nay other assistive devices. However, I must emphasize that books allowances are not applicable at TVET Colleges because they are supplied centrally by the Department of Higher Education and Training.
The sBux system will also be used for food allowances, where applicable, at all Institutions, unless specifically requested by institutions to delay this system. Some of the universities such as the University of North West, their own cafeteria will be integrated with sBux during the course of 2017 in preparations for the 2018 academic year.
2017 will become the transition year for private accommodation allowances and all Institutions not using sBux in 2017 will be instructed to accredit their landlords by 31 May 2017. For Institutions that have residences, ALL accommodation (including private accommodation landlords) will be paid directly to the institutions.
We will spend most of the 2017 academic year resolving all private accommodation challenges such as landlord accreditation, system development to “lock” students to landlords, dealing with legal considerations and other related matters.
Operating hours during the festive season
NSFAS will not be closing for this festive season. We have dedicated this month of December to deal with all the applications received so that we have the assessment completed before the matric results are released. To respond speedily and effectively to the application project, we have implemented several operational changes, including the extension of business hours for our contact centre to operate from 08 AM to 05 PM, Mondays to Fridays, and from 08 AM to 04:30 PM on Saturdays. We have also employed more than 60 temporary staff members who will work night-shift to capture all the manual applications received. We have also approved overtime for permanent employees to help in the processing and capturing of manual applications.
In conclusion, we would like to thank our partners who made the applications project a success. We are grateful for the support provided by the National Youth Development Agency (NYDA) when they opened their centres to assist learners with NSFAS applications. We also thank the Vodacom Foundation for availing their 81 ICT centres across the country, for the support and assistance of learners with online applications. We thank the Department of Social Development through the Isibindi Programme, National Association of Child Care Workers who also partnered on this initiative by dispatching NSFAS application forms to all the 278 Isibindi sites which were servicing matric students. We also thank the Department of Basic Education for their assistance with the NSC data.
Last but not least, we are thankful to the Bohlabela Local Municipality in Bethlehem in the east of the Free State province, for their support in distributing NSFAS manual application forms to rural schools in their area, and helping learners to apply. We would not have achieved this success without them. We will continue to enter into more partnerships with other organisations going forward.
To apply for 2017 NSFAS go to www.nsfas.org.za