NSFAS Bursary Agreement Terms and Conditions. The National Student Financial Aid Scheme (NSFAS) plays an essential role in South Africa by providing financial aid to eligible students pursuing higher education. To ensure a smooth funding experience, students who receive this bursary must enter into the NSFAS Bursary Agreement, which details the terms and conditions of their funding. This guide breaks down each section of the NSFAS Bursary Agreement to help students understand their obligations and the guidelines governing their bursary.
NSFAS Bursary Agreement Terms and Conditions
The NSFAS Bursary Agreement is a legally binding document that defines the responsibilities of both NSFAS and the student. By signing, students agree to adhere to certain guidelines to maintain their eligibility for funding. It is crucial to read and understand these terms to ensure compliance.
For any questions regarding the bursary scheme, NSFAS provides support through the NSFAS Contact Centre at 08000 67327 or via email at [email protected].
Who is Eligible for the NSFAS Bursary?
Eligibility for the NSFAS bursary is based on specific academic and financial criteria. The bursary is intended for South African citizens who meet the following requirements:
| Eligibility Criteria | Details |
|---|---|
| Academic Eligibility | Must be accepted into a public higher education institution for a funded qualification and meet NSFAS academic progress requirements. |
| Financial Eligibility | Annual household income must not exceed the specified limits based on registration date and disability status. |
| SASSA Grant Recipients | Automatically qualify for NSFAS funding. |
Financial Eligibility
criteria for students based on their household income are as follows:
- First-time registrants from 2018 or later, with a household income up to R350,000.
- Students with disabilities from families earning up to R600,000 if registered in 2018 or later, or R400,000 if registered before 2018.
- Students registered before 2018, from families earning up to R122,000.
NSFAS uses these guidelines to verify household income and confirm students’ eligibility.
Bursary Amount and Coverage
The NSFAS bursary covers specific education-related expenses, including tuition and other costs as defined in the DHET National Bursary Rules. The bursary amount is credited directly to the student’s account at the institution and adjusted for any additional funding received. Key points regarding the bursary amount include:
- Tuition Coverage: Covers actual tuition costs for approved courses.
- Payment Frequency: Payments are made at intervals agreed upon with the institution.
- Unused Funds: Any unutilized portion of the bursary amount is returned to NSFAS.
- Bursary Adjustments: NSFAS can amend the bursary amount before disbursement.
Students need to keep track of the bursary amount, as changes may be made by NSFAS without prior notice.
Student Allowances
In addition to tuition, NSFAS provides allowances for other academic needs. These allowances are allocated based on the DHET National Rules and Guidelines and can be accessed in two main ways:
- Direct Deposit: NSFAS deposits allowances directly into the student’s bank account. Students must provide accurate banking details and keep their account information secure.
- NSFAS Wallet: Allows students to redeem funds at participating vendors. To use this option, students need to provide a correct mobile number and safeguard their NSFAS Wallet PIN.
Students are responsible for any fees incurred through purchases and for protecting their NSFAS Wallet or bank account information. NSFAS will not be liable for losses due to misuse or security breaches.
Student Obligations for NSFAS Funding
To retain their bursary, NSFAS-funded students must meet specific academic and personal responsibilities.
Academic Obligations
For students receiving NSFAS funding, the following academic requirements are mandatory:
- Attend Classes: Regular attendance at lectures, tutorials, and academic support programs.
- Complete Assignments: Fulfill assignment requirements as outlined by the institution.
- Progression Rules: Maintain minimum academic progress and meet the institution’s standards.
If the student does not adhere to these requirements, their bursary may be at risk.
Service Commitment
Students funded by NSFAS must also contribute to South Africa’s economy for a period equivalent to their funding duration. This commitment includes:
- Remaining in South Africa: Staying in the country and participating in the economy for at least the period they benefited from NSFAS funding.
- Further Studies Abroad: Students wishing to study abroad may do so, provided they return to South Africa for the required service period.
Those who choose to emigrate before completing their service commitment must repay the bursary amount in full before leaving the country.
Warranties by the Student
NSFAS expects students to uphold several warranties to maintain their bursary eligibility:
- Accurate Information: Students guarantee that all information in the bursary application and agreement is true.
- Compliance: Students agree to abide by all terms of the NSFAS Bursary Agreement and institutional rules.
- Updates to NSFAS: Any changes to their educational or financial status must be promptly reported to NSFAS.
Students must notify NSFAS of significant updates, such as changes in course enrollment, financial assistance, or contact information.
NSFAS Wallet Usage and Responsibilities
The NSFAS Wallet provides students with a flexible way to access their allowances, but it also requires caution. Students must adhere to the following:
| NSFAS Wallet Guidelines | Details |
|---|---|
| Account Setup | Ensure correct mobile number for NSFAS Wallet setup. |
| Account Security | Do not share PIN or account details with others. |
| Usage | Access only designated allowances and monitor balance regularly. |
| Security Breaches | Notify NSFAS immediately of any security breach. |
The NSFAS Wallet allows students to redeem funds at selected vendors, with every transaction reducing the balance. NSFAS advises students to handle their wallet with care, as it does not cover losses due to third-party misuse.
Additional Terms for Second and Subsequent Academic Years
For students continuing their studies with NSFAS funding, the following terms apply:
- Community Service: Engage in community service or projects as prescribed by the DHET National Rules.
- Program Completion: Finish the qualification within the prescribed time frame set by DHET.
These requirements ensure that students funded by NSFAS actively contribute to their communities and adhere to their academic timelines.
Conclusion
The NSFAS Bursary Agreement is a detailed commitment between the student and NSFAS, outlining both parties’ obligations and expectations. Understanding these terms can help students make the most of their bursary and avoid common pitfalls. To ensure you’re fully informed, contact NSFAS for any clarification on the bursary terms and conditions.
