NSFAS 2017 funding expected to be more than R10 billion
Funding by the National Student Financial Aid Scheme (NSFAS) for 2017 is “likely” to be more than R10 billion. And the scheme has recovered more than R66 million from debtors.
“The Budget for next year has not yet been announced‚ however NSFAS’ budget has increased significantly over the past few years from R3.2 billion in 2009 to R10 billion in 2016. The budget for next year is likely to be more than R10 billion‚” said Kagisho Mamabolo‚ NSFAS Spokesperson.
Mamabolo said that the NSFAS has started the roll-out of the student-centred model by opening online applications for 2017 from August 1 to November 30.
“In the 2016/17 financial year the scheme is expected to fund more than 405‚000 students from a budget that is over R10 billion. For the 2016 academic year‚ government made available a fund of R4.582 billion‚ in addition to the R10 billion disbursed through NSFAS‚ to fund 71‚753 students who qualified for NSFAS funding but were either partially funded or not funded at all over the three past academic years of 2013‚ 2014 and 2015.
“A portion of this amount also ensured that any of the NSFAS qualifying students‚ still in the university system in 2016‚ were supported financially to continue and complete their qualification‚” said Mamabolo.
Mamabolo said that in total‚ the budget administered by NSFAS in 2016 comes to R14.582 billion which is expected to fund over 476‚753 students and that the scheme is delighted by an increasing number of debtors who have come forward to make repayments since the launch of recoveries campaign in October 2015.
“To date we have already recovered more than R66m million from more than 22‚000 debtors as at the end of June 2016. It is very important that people pay their loans because repayments received from our beneficiaries contribute to a pool of funds that is allocated to eligible students from poor and disadvantaged backgrounds at universities and TVET colleges on a yearly basis‚” said Mamabolo.
Current Matric learners who will need NSFAS financial assistance at universities/TVET colleges in 2017‚ are encouraged to start applying now on the NSFAS website (www.nsfas.org.za).
The Student Centred Model is meant to open a direct relationship between NSFAS and its students‚ from registration phase to completion of their studies. The system will help in alleviating payment delays and new applications for funding every year.
- Students who have never received NSFAS funding must apply online
- All students who were previously funded by NSFAS and are not funded in 2016 must apply online
- All students who have signed their Loan Agreement Forms (LAF) or Schedule of Particulars (SOP) for 2016 and are currently receiving NSFAS funding DO NOT HAVE TO REAPPLY. Funding will be granted provided you meet the academic requirements.
- All funded NSFAS students are requested to update their information online. Please log onto www.nsfas.org.za and create the MyNSFAS account to verify your details.
Matriculants who have already submitted their NSFAS applications at universities or TVET colleges must not reapply. The institution will send their applications directly to NSFAS.
All paper applications forms can be sent to NSFAS Head Office in Cape Town either by email to firstname.lastname@example.org or Fax 086 644 2822 or by post to: The 2017 Online Applications‚ NSFAS Loans & Bursaries Department‚ Private Bag X4‚ Plumstead‚ 7801.
Closing dates for Grade 12 and previous matriculants are from August 1 to November 30‚ 2016 and for students who were not funded by NSFAS in 2016‚ from September 1 to November 30.
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