The National Student Financial Aid Scheme (NSFAS) provides loans and gives various NSFAS bursaries to students at all 25 of our public universities, as well as the 50 public FET (Further Education Training) colleges. Instead of having to repay the monetary value as with loans, bursars who apply for a NSFAS bursary will enter into a contract to work in a specific sector in South Africa for a specified amount of time after their graduation.
NSFAS has been highly successful in helping to educate the youth; available funding has grown from R441 million in 1999 to a whopping R8.5 billion in 2013.
NSFAS Bursary Requirements for Application
The following basic requirements must be met in order to apply for any of the NSFAS bursaries; applicants must:
Be South African citizens
Comply with the entry requirements set by the universities of their choice / have proof of registration or acceptance to said university
Once successfully awarded the bursary, students must pass all courses and complete the qualification within the minimum time frame prescribed by the particular university to avoid the risk of having to repay the bursary amount.