NSFAS Receives Nearly 2 Million Applications for 2024 Funding. Millions of students have applied for financial assistance through the National Student Financial Aid Scheme (NSFAS), indicating significant demand for educational funding for the 2024 academic year.
Extension of Application Period
Recognizing the substantial need for financial aid, NSFAS has extended the application period by 15 days to facilitate additional student applications. This extension aims to allow more students to access funding opportunities.
Anticipated Increase in Applications
NSFAS spokesperson Ishmael Mnisi predicts that the total number of funding applications for the 2024 academic year may surpass two million by the conclusion of the application period.
Introduction of Comprehensive Student Funding Model
The Comprehensive Student Funding Model, spearheaded by Higher Education Minister Blade Nzimande, targets students falling within the “missing middle” category, providing loans to those with family incomes ranging from R350,000 to R600,000 annually.
Emphasis on Student Loan ApplicationsCriteria
NSFAS emphasizes the importance of student loan applications, with plans to disclose the total number of applications received in due course. Students not qualifying for bursaries will be automatically considered for the missing middle NSFAS student loan.
Importance of NSFAS Consent Forms
Mnisi stresses the significance of submitting NSFAS consent forms, enabling the verification of financial eligibility. Failure to provide these forms may result in delays in funding decisions.
NSFAS has disbursed significant funds to universities and colleges in advance, ensuring timely allowance payments for students at the beginning of the academic year.
Implementation of Accreditation Pilot Programme
NSFAS is actively implementing a new accreditation pilot programme aimed at providing students with safe and conducive accommodation options conducive to learning.