10 Things You Need to Know about NSFAS | Western Cape Government

10 Things You Need to Know about NSFAS

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NSFAS logo
  1. NSFAS was established by the South African Government in 1996.
  2. It was set up to ensure that students, who have potential but cannot afford to fund their own studies, will have access to funding for tertiary education.
  3. It is funded by the government, international donors and the private sector.
  4. TEFSA, which was established in 1991, managed and administered the scheme until 2000 when TEFSA became NSFAS.
  5. All of the financial assistance received by a successful applicant takes the form of a loan.
  6. Up to 40% of loans can be converted into bursaries, depending on student's pass rates.
  7. Loan repayments are recycled to help future generations of students.
  8. The NSFAS Act of 1999 allows NSFAS to have employers deduct loan repayments from monthly salaries of those who have received assistance from the Scheme.
  9. Loan repayments are based on individual's earnings.
  10. The interest charged on loans is subsidised and therefore considerably less than the commercial rate which is charged by banks.
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The content on this page was last updated on 24 October 2019