A NSFAS loan is an award that a student can receive from NSFAS upon applying and qualifying for such loan. This loan has to be repaid with interest (interest of each year is linked to the national inflation rate). A maximum award size is determined for each year by NSFAS. A portion of this award can be converted into a bursary based on academic performance. The size of this bursary is determined by the number of courses which the student has passed. A 100% pass rate will result in a 40% bursary rebate on this NSFAS loan.

NSFAS Loan Criteria:

  • Only South African students studying at public South African Higher Education Institutions;
  • Undergraduate student studying towards a first higher education qualification;
  • Studying for a postgraduate course which is a requirement to practice his/her chosen profession (e.g. Post-graduate Certificate in Education);
  • Any postgraduate degree except, MBA, MBL, DBA or DBL;
  • Student must be able to demonstrate potential for academic success and that he/she is financially needy;
  • Application form has to be fully and correctly completed;
  • All required documentation need to be submitted upon application;
  • Must apply before the closing date:
    • First semester - 20 September of previous year
    • Second semester - 30 April of current year

Download the 2014 NSFAS loan application form (PDF: 47.75Kb)

Source:UNISA