The National Students’ Financial Aids Scheme or NSFAS as we all know it, has implemented a new funding model that promises to streamline NSFAS applications at Universities. This has brought about some radical changes to the old system which will be to the benefit of students. In this post I will try to answer 5 important questions that will help you to understand the new NSFAS application system.
Are applications only online?
That’s right. The application process is online which will allow students to apply for 2017 NSFAS funding directly and very importantly not through the university as was previously the case.
What about students already on NSFAS?
Students who are already funded for the 2016 academic year should not apply as NSFAS already has their information. Pretty cool, hey. You only have to apply once during your study career. No more queues. Only first timers have to apply to capture your data on the system.
For how long will I be funded?
The best news is that you will be funded fully for the duration of your studies. This will depend on the programme you register for whether a 3- or a 4-year program, and of course your academic performance. If you do not perform, you are wasting money that could have been given to another deserving student.
When do applications open?
On 1 August 2016 NSFAS will open online applications for all students who qualify and meet the requirements for NSFAS funding. Be ready so that you don’t lose out.
How will I be notified about my application?
You will receive feedback about your application directly from NSFAS via sms or email. NSFAS is fully launching into the new student-centred model, which will open a direct relationship between NSFAS and students from the initial phase of application until completion of your studies. This is to ensure that money follows the student.
The new model will take the funding administration away from universities and was part of the recommendations of the Ministerial Review on Student Funding. It was piloted in the 2014/15 financial year and the restricted online application was also opened to selected universities and colleges in June this year. Keep visiting the NSFAS website for further information.