Editor LauraWhen it comes to studying, the most important thing is to find the money you need. Many students have to take out loans and turn to other means of funding their University education. However, there is an easier way in which you can get funds for your University studies. The National Student Financial Aid Scheme (NSFAS) is a program that was created by the government of South Africa as a way of helping students with financial difficulties meet their educational needs at universities and colleges around the country.
Five Essentials That Will Be Covered By NSFAS
Tuition
Tuition fees will be covered. You will not have to pay any of your tuition fees, including registration and other administration charges.
Your tuition fees will be paid directly to the institute. The National Student Financial Aid Scheme (NSFAS) has a long-standing agreement with each registered higher education institution in South Africa that covers all students funded by NSFAS. As part of this agreement, the funding for your study is paid directly from NSFAS to your university or college on your behalf and you receive confirmation from them once payment has been made (this may take up to 10 working days).
Your parents/guardians can apply if they are unable to cover their children’s costs while they are studying at university or college level. To qualify for this type of funding, parents/guardians must earn less than R3 million per year before tax or have assets worth less than R5 million after tax as well as meet certain criteria regarding their income levels and stability over time
Transport
The transport allowance is paid to students who are studying full-time at any of the following institutions:
- A university or tertiary institution;
- A polytechnic or a technical college; or
- A private institution.
Accommodation
The third essential that will be covered by Nsfas is your accommodation. You can use your accommodation allowance to pay for your rent, bills and other fees. The allowance is not a loan, grant or bursary. It’s not a stipend either. It’s an allowance from the National Student Financial Aid Scheme (NSFAS).
This means that you don’t have to pay back anything that’s yours once you graduate from university and find employment elsewhere. But if you don’t find work after graduation, then NSFAS may ask for their money back – but only if they think that it was spent on something else than its intended purpose (i.e., paying for university accommodation).
Food and meals
Food and meals are provided by the institution, hostel or family depending on your requirements. The Nsfas will cover all food expenses incurred as long as they are in line with the amounts that have been approved by NSFAS.
Textbooks and stationery
Do you know that textbooks and stationery are the most expensive items for students? If you didn’t know that, then you’re probably not a student or parent of one. Textbooks and stationery are a heavy burden on both students and parents, so they certainly need to be covered by Nsfas.
Students who go to school every day in all kinds of weather have to carry their books around with them everywhere they go! And if they forget their books at home…they’ll miss class! That’s just terrible! But here’s some good news: Nsfas will cover textbooks and stationery for all eligible students once they fill out an application form online.
Closing
There are many benefits of applying to Nsfas. You can get your finances sorted out and focus more on your studies. The application process is also simple, so you don’t have to worry about anything else while completing it. If you want to study at an institution that offers cheap rates but doesn’t compromise on the quality of education they provide then do consider applying for this funding scheme today!