NSFAS introduces improvements to funding system

Minister of Higher Education, Science and innovation, Blade Nzimande has unveiled several improvements that have been made to the National Student Financial Aid Scheme (NSFAS) system for applications and ensuring quick turnaround times on funding decisions.

Nzimande announced the opening of NSFAS applications for the 2024 academic year 2024 on Tuesday.

Public universities and TVET college students will have until January 31, 2024 to submit their applications for financial aid.

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“The reason we are opening the application period now is that NSFAS was awaiting SARS completion of the tax period which is very important to enable NSFAS to have the necessary and updated information available during the application season,” said Nzimande.

“Furthermore, this is done to afford the beneficiaries shorter turnaround times for decision making which is aligned to NSFAS financial eligibility assessment which requires updated SARS information.”

According to the minister, for this application period there will be no supporting documents required during the application.

This as SASSA, SARS and the Department of Home Affairs will work in collaboration with NSFAS to verify particulars provided in applications in a bid to strengthen control processes.

In previous years, the parent relationship verification has been a challenge where students change their parents’ information in order to qualify for the bursary.

Minister Nzimande cited that supporting documents will only be required, in case where NSFAS cannot verify the parental relationship.

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In the case where a student is submitting an appeal, documents required will be based on the NSFAS declaration form available on the NSFAS website.

“I urge students to provide accurate information particularly parental information when applying so that when validations occur with Home Affairs students can be funded timeously.

“NSFAS will reject or request additional supporting documentation where validations with third parties have failed,” he cautioned.

First-time applicants will be able to appeal as soon as they are rejected, while returning students and continuing students will only be able to appeal from the end of November.

In this current financial year, NSFAS is funding 1, 6 million students.