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Student Loans offered by The National Student Financial Aid Scheme

The National Student Financial Aid Scheme homepage
image of The National Student Financial Aid Scheme

The National Student Financial Aid Scheme is a registered credit provider with South Africa’s National Credit Regulator: NCRCP2655

About – The National Student Financial Aid Scheme

NSFAS stands for National Student Financial Aid Scheme and is a public entity governed by the NSFAS Act and Public Finance Management Act (PFMA), which are both regulated by the PFMA and Treasury Regulations.

Phew, what a mouthful! Now that we have all the acronyms out of the way we can go on to speak about what we do best!

Financial aid to student

Our aim and fundamental motivation for having formed this organisation was simply to become an efficient provider of financial aid to students around South Africa that come from poorer communities as well as the working middle class.

We strive to ensure that students who have been experienced misfortune in their lives are still able to access higher tertiary education. We do this with passion, all to aid South Africa’s national and human resource development goals.

NSFAS doesn’t only come with an expanded title, is also comes with some eclectic elements that make up our mission statement. This statement simply states why NSFAS exists, what we do, and the impact we have on our constituency.

Why we exist

To successfully offer financial aid to students that attend public TVET colleges and universities.

What we do

We take steps to accurately identify eligible students for this financial aid in the form of bursaries and student loans that students can repay when they have access to the funds to one day do so.

The impact we have

NSFAS is changing the lives of young, eager and ambitious students who wish to make a life for themselves, even despite not having the financial means to do so.

Services – The National Student Financial Aid Scheme

The government has a budget for higher education through the Department of Education. This is then filtered to NSFAS, who subsequently provides financial aid to students in need. This, in turn, is supplemented by the study loans that are repaid by students.

Repaying the loan through NSFAS is simple since they are income-contingent. What this translates to is only having to repay the day you earn your first pay check!

You’ll be furnished with statements to keep up to date and remember it’s all up to you to ensure that you stay in touch with your creditor. If you move, don’t’ make us come find you!

Repayment of your student loan

Calculating the repayments will be in accordance with the salary you earn. Only once you are officially earning more than R30 000 per annum, will we kick in those statements.

The amount begins at 3% of your annual salary, which can increase up to 8% should your salary reach R59 300 or more annually.

With an R30 000 per annum salary, you’d be looking at R75 per month, totalling R900 per year.  As soon as your salary reaches R59 300, your repayment changes to R395 a month. Of course, if you can afford to pay more, we encourage it – only you will benefit from this with lower interest and quicker settlement!

Repo rate

Speaking of interest, that is charged at 80% of the repo rate. Repo rate? The repo rate is the repurchase rate, which the Reserve Bank lends to commercial banks. Bear in mind interest kicks in immediately and you should therefore start making as soon as possible.

What time frame do you have to pay it back you ask? There is no limit! We honestly aren’t here to make your life difficult, if you earn an income, we expect you to start paying us back, if you don’t or you lose your job, let us know, you can restart the payments again once you’re earning a solid income again. 

Interest Rate

From 0 %

Loan Amount



Repayment Term

0 months

0 months

Summary of Services

  • STUDENT Loans

NSFAS is the financial aid of choice when you’re set to start pursuing your education goals

Under the Act of NSFAS, we make it possible for any student to apply for a bursary or loan. That said, we do permit the board to impose conditions on said loans or bursaries.

Conditions that could be included would be to test the student and also offer up to 40 percent of any personal loan as an incentive for academic success.

Effective education financing

The National Student Financial Aid Scheme (NSFAS) has made it their goal in the financial industry to efficiently provide financial aid to all those South Africans that are academically worthy of receiving tertiary education at a level that they would not otherwise have been capable to do on their own. We have affiliated with 26 public higher education institutions as well as 50 Technical and Vocational Education and Training Colleges.

Previously disadvantaged students

We aim to achieve remarkable solutions and have done so. We represent a major success in terms of the Government’s agenda. Through exemplary practice, we aim to promote the access of previously disadvantaged students in higher education.

Don’t apply until you are certain you know what you wish to study and also where you wish to study. Be it a university or college, you will be prompted to provide these answers in your online loan application.

The certified documents required in order to apply

To apply for a student loan you’ll need a South African identity document and ID’s of your parents as well as a copy for each person that lives under the same roof as you. If employed, you will need to provide a payslip or letter of employment and it should not be older than three months.

We have a consent form that needs completing by your parents as well. Any applications sort of consent, even if signed by others, will still be declared incomplete and therefore not accepted.  Those with disabilities, need to complete the Disability Annexure.

Your contact details are mandatory and must be in working and receiving orders. NSFAS uses these details to communicate and correspond with you during and after the application process.

Customer Reviews & Testimonials

January 2019

Without NSFAS, I don’t think I would have had the privilege to build such a great career.

Nombuso M
— Port Shepstone —

May 2019

I was able to pay my NSFAS loan and finish paying in a short period of time because of the low rates I had on my credit plan.

Sandra B
— Nelspruit —

October 2018

Applying for an NSFAS loan was quick and easy. I didn’t encounter any problems with their online system.

Zelda V
— Boksburg —

 Contact Details

House Vincent 2nd Floor, 7700, 10 Brodie Rd, Cape Town, Wynberg, 7800, South Africa
Ph: 0860 067 327 / 0860 067 327
Em: info@nsfas.org.za
Em: student@nsfas.org.za

Postal Address

Private Bag X1, Plumstead, 7801, South Africa

 Opening Hours

  • Monday 08:00 – 17:30
  • Tuesday 08:00 – 17:30
  • Wednesday 08:00 – 17:30
  • Thursday 08:00 – 17:30
  • Friday 09:00 – 17:30
  • Saturday 09:30 – 13:00
  • Sunday Closed –

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