Is NSFAS A Loan Or Bursary
What is NSfas?
NSFAS is a bursary scheme funded by the Department of Higher Education and Training for those who do not have the financial means to fund their studies and cannot access bank funding, study loans or bursaries.
Is this a loan or a bursary?
Up until 2018, most of the money given out by NSFAS was actually a loan that you had to pay back once you finished your studies and started working. But, thanks to the SA government’s commitment to free education, all new and returning students applying for NSFAS from 2018 will have the opportunity to receive a full bursary for their remaining tertiary studies. This means that, if you qualify for NSFAS after 2018, you’ll receive free education for the duration of your studies!
There are also some full bursaries with specific requirements that are funded by NSFAS. Some of these include:
- The Technical Vocational Education and Training (TVET) bursary aimed at students studying towards vocational or occupational jobs at colleges.
- The Funza Lushaka Bursary Programme for aspiring teachers, who then get assigned a teaching post after their studies.
- Bursaries for students who want to study the critical and scarce skill of Social Work.
- The Disability Bursary Programme for students that struggle with disabilities.
To apply for these bursaries, you must submit the usual NSFAS application. Since these are bursaries, and not loans, students who get one of them will have no repayments after they finish studying.