Record-Breaking Number of Financial Aid Applications as NSFAS Funding Increases
The National Student Financial Aid Scheme (NSFAS) has seen an unprecedented number of applications for the upcoming academic year, with 1,545,822 students applying for financial assistance as of January 21, 2024. This surge in demand is occurring ahead of the closing date for the application cycle on January 31, 2024.
Higher Education, Science and Innovation Minister, Dr. Blade Nzimande, addressed the media on Tuesday, sharing details about the department’s preparations for the 2024 Post School Education and Training (PSET) academic year. According to his announcement, NSFAS has provisionally approved funding for 657,703 applicants who are current recipients of social assistance from the South African Social Security Agency (SASSA).
Dr. Nzimande urged applicants to comply with the requirement of submitting consent forms. By completing this step, NSFAS is able to verify critical personal information through third parties, fulfilling legislative mandates. Applicants’ employment status, parent or guardian income levels, and spousal income information are vital to NSFAS for determining eligibility for aid.
He emphasized that students falling within the application data category should anticipate instructions from NSFAS to upload their signed SARS Consent Forms, conveyed via SMS and email. Failure to provide a fully completed and signed NSFAS consent form could lead to disqualification from NSFAS funding.
To better streamline communications with students, NSFAS introduced new tools, including a mobile app, a WhatsApp line, and USSD access. These platforms ensure that application updates are readily available to applicants who can now track their application status with NSFAS through WhatsApp at 078 519 8006 or by dialing USSD code *120*67327.
Parallel to the application updates, NSFAS is coordinating with higher learning institutions to manage student accommodation effectively. Minister Nzimande requested that institutions forward NSFAS-funded student lists to facilitate accommodation applications via NSFAS’s dedicated portal.
Acknowledging the need for quality housing, NSFAS has embarked on a pilot program accrediting private accommodation providers for 17 universities and 23 TVET colleges. Through stringent accreditation, NSFAS aims to offer students decent, secure, and conducive living settings that support their academic success.
The scheme has listed 38,938 beds for TVET colleges, with 25,989 already accredited and 12,949 undergoing the process. University accommodations have seen 67,337 registered beds, with 42,965 accredited and the remaining 24,372 in the pipeline.
NSFAS’s proactive approach includes a portal that lets institutions view available accredited accommodation. With agents updating lists daily, the accreditation process is dynamic and ongoing.
Starting January 8, 2024, NSFAS has conducted weekly training sessions for accommodation providers and students regarding application and registration procedures. These training efforts will continue up to February 2024.
NSFAS
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