The National Student Financial Aid Scheme will be opening applications for financial support for the 2018 academic year on 01 August. Students are advised to prepare their supporting documents which must be submitted with their application.
The required supporting documents are:
Certified copy of the applicants ID or birth certificate
Certified copy the applicants parents or guardians ID as well as ID copies of the household members
Certified copy of the pay advice or letter of employment which reflects the household income.
- Are they progressing sufficiently well academically (in other words, did they pass more than 50% of the subjects registered for at the beginning of the year)?
- Are they financially needy as assessed by the NSFAS means test?
Students who have studied for more years than NSFAS will fund will not receive NSFAS funding (the N+2 rule). There is a difference between “eligible” and “qualify” – students can be eligible for funding (in other words, meet the criteria) but only qualify for the funding once the award has been offered (earned) – qualifying for NSFAS funding is dependent on how much funding has been allocated to the university. Being eligible for NSFAS funding does not guarantee NSFAS funding.
- Currently, all students have to apply EACH and EVERY year that you register for studies. Previous or current NSFAS loans do not guarantee future NSFAS loans.
- If you need to secure financial aid to register at the university, it is even more important that your application is submitted as early as possible.
- In the future however, NSFAS is introducing a new system in which you only apply once at the beginning of your studies.
- If you are successful, and so long as your academic progress remains satisfactory, NSFAS will continue to provide financial support for your studies.
- If you are successful in your application for NSFAS financial aid, you will need to enter into a loan agreement with NSFAS, which the WSU Student Financial Aid Office will assist you with.
- NSFAS loans are interest-free while you are at university, and when you finish your studies, graduate from WSU and get a job where you are earning more than R30 000 a year, you will need to start repaying your loan.
- Each NSFAS loan agreement form has a set of terms and conditions, and you need to understand these before you decide to accept the loan.
- Signing each page of the pre-agreement quotation and the loan agreement form means that you understand the conditions of the loan and that you are agreeing to the conditions of the loan.
- Once the list above is available, you will be cleared for registration.
- However, before any funds are made available to your student fee account, you will need to come to the WSU Financial Aid Office to complete a pre-agreement loan quotation and a loan agreement form.
- No allowances will be made available on your Intellicard until five days after you have completed the loan agreement form, and all documents have been finalised.
- Only once the loan forms have been submitted to NSFAS, and the from NSFAS received, will your student fee accounts be credited and your tuition and residence costs settled.
- However, the first quarter meal allowances and book allowances will be activated on the Intellicard.
- If you have results outstanding for supplementary examinations, you may bring an academic record (as soon as the supplementary results are available) to the WSU Financial Aid Office for re-evaluation.
- If you then qualify for NSFAS, you will need to complete a pre-agreement and loan agreement form.
- Need to have been previously funded by NSFAS
- Need to have been registered in the last two years
- Need to be on track to graduate at the end of this academic year
- Cannot have received Final Year funding previously.
For the NSF Scarce Skills funding, there are particular areas of study that have been identified as scarce skills, and students are selected on the basis of financial means and academic merit. For the Initial Teacher Education funding, only first years undertaking teaching in the same priority areas as Funza Lushaka will be considered for funding. For continuing students, priority will be given to students who were registered in the last two years of study and who have been previously funded by NSFAS. However, all continuing students are invited to apply and will be considered if there is funding available.
- the final years (must be graduating at the end of the year that the loan is given)
- student who have been previously funded by NSFAS
- whose academic results are satisfactory
- who have not been funded for two years beyond the minimum time to complete a degree (that is, if you are studying a three-year degree, you can only receive funding up to and including your fifth year of study and if you are doing a four year degree, you will only be funded for six years).
If you receive this loan, and you do graduate at the end of the year, the whole loan will be converted to a bursary. If not, then the standard NSFAS 40/60 rule applies.