VUT NSFAS National Student Financial Aid Scheme South Africa : Vaal University of Technology

Organization : Vaal University of Technology
Facility : NSFAS National Student Financial Aid Scheme
Country : South Africa
Website : http://www.vut.ac.za/index.php/admissions/financial-aid-a-bursaries/nsfas

VUT NSFAS Scheme

NSFAS is a government loan scheme, with the added incentive of a bursary conversion (maximum of 40%) depending on academic performance.

Related / Similar Facility : VUT Self Check

The loan is determined according to the means test. In some instances, considering affordability, families are expected to make a contribution towards the student’s studies. In instances where NSFAS funding covers all costs, students are encouraged to seek additional funding from other sources.

Accessing NSFAS Funds

The applicant must meet VUT registration requirements before the financial aid application can be considered. Applicants are encouraged to complete a NSFAS loan application form, which is available from VUT’s Financial Aid Office.

Apply in good time because NSFAS funds are limited. Attach recent required documents as stipulated on the application form and ensure that all documents are certified.

Students must adhere to the closing dates as late applications will not be considered. Application forms must be submitted by or before 30 October each year for continuing students, and 30 January for first-year students.

Please note that incomplete application forms. or applications without the required authenticated documentation, will not be considered.

How to Sign your SOP

Eligibility Criteria

** Only South African citizens are eligible to be considered for a loan
** An undergraduate student studying towards a first higher education qualification
** A student studying a postgraduate course that is a requirement to practice in a chosen profession

** The student must demonstrate potential for academic success and be financially needy
** The student must be unable to finance the studies without a NSFAS award.

Note:
VUT reserves the right to withdraw any funding that has been provided to a student based on misrepresentation, false information and/or pretense. Furthermore, such a student will be subject to disciplinary action.

FAQ On NSFAS Fund

Who qualifies for financial aid and what are the criteria?
1. Financially needy and academically deserving students.
2. Funding is for South African citizens.

What does NSFAS funding cover?
Study fees and academic essentials such as prescribed books, stationery, accommodation and meals.

Is it renewable?
Yes, on proof of academic progress and it is subject to the availability of funds. The university will submit the academic results to NSFAS for assessment.

Does the student need surety to qualify for a loan?
No surety is required.
What documents are required to support an application?
Please refer to the “ Documents required for NSFAS application“ link.

Is the loan transferable?
No, it can only be used by a student in one institution per academic year. Students cannot transfer the funds to another institution or amongst themselves.

What happens to unutilised credit in a student’s account?
Any unutilised funds are returned back to NSFAS/donor to reduce the loan amount, unutilized funds serve as the first repayment.

What is the difference between a study loan and a bursary?
Study loan is repayable and a bursary is non-repayable, being awarded on academic merit.