NSFAS News

NSFAS Student Loan Application 2024 Still Open

Published

6 days ago

April 13, 2024

Johan

NSFAS Student Loan Application 2024 Still Open. Good news for those seeking NSFAS bursaries or student loan funding: the application period has been extended until February 15th, providing additional time for applicants.

NSFAS Student Loan Application 2024 Still Open

Originally slated to close on January 31st, NSFAS applications have now been extended until February 15th. This extension offers more opportunities for students to apply for the ‘missing-middle’ student loan funding.

Eligibility Criteria

The student loan funding caters to individuals from families with a combined household income ranging between R300,000 and R650,000 annually. This scheme encompasses both undergraduate and postgraduate courses.

Funding Allocation

Minister Nzimande disclosed that in phase one (2024), R3.8 billion will be allocated to support the loan scheme, with R1.5 billion sourced from the National Skills Fund and an additional R2.3 billion from the Setas. This funding is projected to aid 47% of missing middle students. Furthermore, the Minister emphasized an annual increase in the fund, reaching over R42 billion in a decade.

Infrastructure Enhancement

The Department of Higher Education and Training (DHET) has allocated funds for the enhancement of NSFAS ICT systems. The missing middle funding aims to support both university and TVET college students.

Application Process

Interested individuals can apply for missing middle student loans for the 2024 academic year through the mynsfas.org.za website. This funding is accessible to first-year students as well as those in subsequent years of study, encompassing both undergraduate and postgraduate courses.