Advantages and Disadvantages of NSFAS (FAQ Answered)

NSFAS, or the National Student Financial Aid Scheme, is a government-funded program that provides bursaries and loans to eligible students who want to pursue higher education at public universities or TVET colleges in South Africa.

NSFAS aims to support students from poor and working-class backgrounds who meet academic and financial criteria. In this article, we will explore some of the advantages and disadvantages of NSFAS and answer some frequently asked questions about the scheme.

Read: NSFAS Bursary Alternatives to Fund Education in South Africa

What are the advantages of NSFAS?

Some of the benefits of NSFAS include:

• Free education: NSFAS bursaries cover tuition fees, prescribed books, learning materials, accommodation, meals, and transport allowances for qualifying students. Unlike loans, bursaries do not have to be repaid, as long as the student passes their courses and complies with the terms and conditions of the scheme. This means that students can access free education and graduate without debt.

• Academic support: NSFAS provides academic support and mentoring to its beneficiaries, to help them succeed in their studies and careers. NSFAS also offers online learning resources, such as digital learning devices, e-books, and data bundles, to enable students to access their courses and materials remotely.

• Social impact: NSFAS contributes to social and economic development by increasing access and equity in higher education, and by producing skilled and employable graduates who can contribute to the workforce and society. NSFAS also promotes social justice and transformation by addressing historical inequalities and empowering disadvantaged students.

What are the disadvantages of NSFAS?

Some of the challenges of NSFAS include:

• Limited funding: NSFAS depends on government funding and donations from private and public sectors to finance its operations and bursaries. However, the demand for NSFAS funding often exceeds the available budget, resulting in funding shortfalls and delays. This means that not all eligible and deserving students can receive NSFAS funding, and some students may experience difficulties in paying their fees or accessing their allowances.

• Administrative issues: NSFAS has faced some administrative and operational problems, such as system errors, communication gaps, fraud, corruption, and mismanagement. These issues have affected the efficiency and effectiveness of the scheme, and have caused frustration and dissatisfaction among students, institutions, and stakeholders. NSFAS has been undergoing reforms and interventions to address these challenges and improve its performance and accountability.

• Academic pressure: NSFAS beneficiaries are expected to maintain a certain academic standard and progress in order to retain their funding. Students who fail to pass more than 50% of their courses, or who change their qualification or institution without approval, may lose their bursary or have it converted into a loan. This can create stress and anxiety for students who may struggle with academic difficulties or personal circumstances that affect their studies.

FAQ about NSFAS

Here are some common questions and answers about NSFAS:

• How do I apply for NSFAS? You can apply for NSFAS online through the official website or the mobile app. You will need to create a myNSFAS account, fill in the application form, and upload the required supporting documents, such as your ID, proof of income, consent form, and disability annexure (if applicable). You can track your application status on your myNSFAS account or contact the NSFAS call center for assistance.

• Who qualifies for NSFAS? To qualify for NSFAS, you must be a South African citizen who has applied or registered to study at a public university or TVET college. You must also demonstrate financial need, by having a combined household income of R350 000 or less per annum, or by being a recipient of a social grant. Additionally, you must meet the academic requirements of your chosen institution and course.

• How do I sign my NSFAS agreement? Once you have been approved for NSFAS funding, you will need to sign a NSFAS bursary agreement (NBA) online through the NSFAS website. Your parent or legal guardian should sign for you if you are under the age of 18. You must sign your NBA every year that you receive NSFAS funding.

• How do I receive my NSFAS allowances? NSFAS beneficiaries receive their allowances directly from NSFAS through their bank accounts. You must register your bank account details on your myNSFAS account and verify them with NSFAS. You will receive SMS notifications when your allowances are paid. Allowances for disability students will be paid through the institution.