This article will guide you on how the NSFAS student loan works in South Africa, who qualifies, the income requirements, and how to apply for funding through the official portal.
South Africa Student Loan
NSFAS provides student loan and bursary support to students from low-income and middle-income households in South Africa. The loan option is part of the Missing-Middle Loan Scheme. If your annual household income sits between R350,000 and R600,000, you may apply for a student loan. The process follows the same basic steps as bursary funding, but you must sign a loan agreement if you qualify.
Who qualifies for the NSFAS Student Loan?
You qualify for the student loan when you meet these conditions:
- Your household income is between R350,000 and R600,000. (nsfas.org.za)
- You are accepted to study at a public university or a TVET College.
- You can apply for undergraduate or postgraduate studies.
- You are in year 1, 2, 3 or 4 of your programme.
If you applied for a bursary in 2024 and got rejected because your income exceeded R350,000, you may pre-qualify for the loan scheme if your income is under R600,000.
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How to apply
NSFAS guides applicants through three simple steps:
- Create a profile.
- Apply via the online form.
- Submit the application.
You must also complete a Consent Form so NSFAS can verify your information from third parties.
Requirements and terms
- Important points to note in the process include:
- You must sign a loan agreement if you qualify.
- Your loan amount depends on your income band and the institution that admits you.
What happens with rejected bursary applicants
If a bursary application got rejected because your income was above R350,000, NSFAS will contact you about the loan option if your income is below R600,000.
You do not need to submit a separate application if you already applied for a bursary in 2024 and got rejected on those grounds. Your existing application may be used.
Conclusion
The NSFAS student loan supports students whose income is too high for a bursary but still below the missing-middle threshold. If your household income falls between R350,000 and R600,000, and you gain admission to a public university or TVET college, you can follow the steps of creating a profile, applying online, and completing the required consent form.