Fund out how to learn more: Step-by-step guide to qualifying for NSFAS bursary

Applications for the National Student Financial Aid Scheme (NSFAS) opened on September 28, and will close on January 31, 2023.

These are the requirements to qualify for a NSFAS bursary:

– You must be South African;

– You must plan on studying in 2023 or are already studying at a public university or TVET college;

– You are a Sassa grant recipient/s;

– Your combined household income is not more than R350 000 per year;

– If you are a person living with a disability, your combined household income should not be more than R600 000 per year.

All individuals who want to either apply for NSFAS funding, update their personal details or track their existing application will need to create a myNSFAS account.

Here is a step-by-step process on how to register for a myNSFAS account:

– Visit www.nsfas.org.za;

– Click on the myNSFAS tab at the top right of your screen;

– Fill in your personal details as they appear on your identity document;

– Fill in your valid contact details (NSFAS will use this to communicate important updates regarding your application);

– Accept terms and conditions by ticking on the box provided. This action is compulsory and will allow NSFAS to validate the information provided;

– Create a password to protect your account, confirm password then click on “CREATE”;

– A message confirming your account creation will pop on the screen.

Remember to always keep your personal details and passwords private to avoid identity theft or scammers accessing your profile.

If you have already made an application, this is how you track it:

– Login to your NSFAS account on the myNSFAS student portal;

– Enter your username and password and sign in;

– Click on “Track Funding Progress”.

After you have clicked on the “Track Funding Progress” option, you will then receive one of several application statuses.

You will then be able to see whether NSFAS needs to take any further action to approve or decline your funding application.

Once you have received your funding application status, for NSFAS to begin processing your application and give you the outcome, several supporting documents must be provided.

Here are some funding statuses and what they mean:

– Application Sent: Your application has been successfully loaded onto the NSFAS system.

– Filtering: The bursary programme looks to see if you are a returning student and if you have any prior credentials.

– Validation: NSFAS is working with Sassa and the Department of Home Affairs to conduct third-party verification.

– Evaluation: NSFAS is confirming the accuracy of all the paperwork you submitted with your application.

– Funding Eligibility: NSFAS is confirming the financial situation of your household as stated in your application.

– Awaiting Academic Results/Acceptance: To ensure you meet the criteria for funding, NSFAS is evaluating your academic performance and the status of your institution’s admission. Many people discover they need to remain in this phase for a time. This is because NSFAS must wait for data from your preferred college.

– Awaiting to Register: NSFAS is receiving data from your institution to enable them to create a bursary agreement. This is another step students find themselves on for a while. This is because NSFAS has to wait for information from your chosen institution.

– Signing of Agreement: For NSFAS to pay out your allowances, you must now sign your bursary agreement.

– Payments: You can now choose to have your allowances paid through your institution or the NSFAS mobile wallet system. The myNSFAS portal should be checked frequently by students for updates.

NSFAS has had many issues with their payment process in the past.

To try and overcome these obstacles, NSFAS has worked on an alternative and secure plan which will see students receiving their allowances through a Mastercard, which operates similarly to a bank card.

– Student beneficiaries will have better control and access to promised funds through the card system. These cards will replace the NSFAS Wallet payment platform currently in use.

The message around this new card payment system, reads as follows on the NSFAS Facebook page:

“As you are all aware, there have been issues related to the payment of NSFAS allowances such as illegal access to, possible payment of ghost beneficiaries, incorrect and duplicate payments. To correct this situation, NSFAS worked on an alternative and secure plan which will see students receiving their allowances through a bank card. NSFAS has embarked on a drive to move beneficiaries onto the new allowance payment method, with the plan of rolling it out to all beneficiaries in 2023. NSFAS has partnered up with four banks to bring this solution to life:

– eZaga

– Tenetech

– Norraco

– Coinvest

Keep checking our social media pages to see where our partners will be, they might just be on their way to your campus!”

Visit www.nsfas.org.za for more information on how the NSFAS Mastercard will work.

I know of many deserving students who have had countless issues with NSFAS.

Sadly, I even know of some who have just given up and not pursued their studies because of the obstacles with the application process.

Most disturbingly, though, is that I know of too many people who lie about their financial circumstances – and then blatantly waste the funds they receive.

Yes, NSFAS needs to up their game in terms of their processes, but we also need to change our attitude around NSFAS bursaries.

If you get it, appreciate it and don’t waste it. Someone else’s future could have been built on the funds and support you are receiving.

For more information on NSFAS go to www.nsfas.org.za