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NSFAS, with a motto of Tomorrow Starts Now an efficient and effective provider of financial aid to students from poor and working class families in a sustainable manner that promotes access to, and success in, higher and further education and training in pursuit of South Africa’s national and human resource development goals.
National Student Financial Aid Scheme (NSFAS) is a statutory body, funded primarily by the South African National Department of Education and Training, which provides study loans to academically able but financially needy students who wish to study at one of South Africa’s public institutions of higher education. NSFAS assists students who have the academic potential to succeed at university and who qualify in terms of the NSFAS Means Test for financial aid.
The mission statement is made up of three distinct elements which describe why NSFAS exists, what they do, and the impact on their constituency:
1. NSFAS exists to provide financial aid to eligible students at public TVET colleges and public universities.
2. NSFAS identifies eligible students, provides loans and bursaries and collects student loan repayments to replenish the funds available for future generations of students.
3. NSFAS supports access to, and success in, higher education and training for students from poor and working class families who would otherwise not be able to afford to study.
A variety of NSFAS bursaries exist, each with its own criteria. A NSFAS bursary is an award that a student receives upon application for such funding. This bursary award does not have to be repaid, if the student however does not wish to adhere to the bursary conditions such br
ursary is reverted to a loan. This loan will have to be repaid with interest.
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