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Missing middle school students will receive 31 000 loans from NSFAS

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Missing middle school students will receive 31 000 loans from NSFAS

Missing middle school students will receive 31 000 loans from NSFAS. Approximately one million students are set to benefit from NSFAS bursaries in 2024, with the introduction of the Comprehensive Student Funding Model addressing the missing middle. This financial aid initiative targets those ineligible for traditional NSFAS support.

Check Also: ZA Student Portal

The Missing Middle Definition

“Missing middle” refers to students from households exceeding the NSFAS income threshold of R350,000. Despite surpassing this limit, they struggle to afford higher education costs, prompting the government’s intervention.

Funding Allocation and Gratitude

Higher Education Minister Blade Nzimande launched the Comprehensive Funding Model, allocating R3.8 billion in its first phase (2024). NSFAS expressed gratitude for the government’s contribution, aiming to support 47% (31,884 students) of the estimated 68,446 missing middle individuals.

Future Growth and Commitment

The Minister outlined a yearly increment in funding, projecting a value exceeding R42 billion in a decade. This demonstrates the government’s commitment to addressing the financial challenges faced by the missing middle throughout their tertiary education journey.

NSFAS Missing Middle Funding Mechanism

Historical Context

Before 2018, NSFAS support was administered as loans. The shift to comprehensive bursaries for poor and working-class students left the missing middle without direct support.

Loan Mechanism for Missing Middle

The missing middle will receive NSFAS support in the form of a student loan, acknowledging their financial constraints while adhering to specific criteria.

Eligibility Criteria

  • Annual household income between R350,001 and R600,000.
  • Acceptance into a TVET College or public university.
  • Application possible in any of the four study years.
  • Maintain a coursework average of 60% for continuous funding.
  • Students achieving over 70%, completing within the prescribed time, can apply for a 50% loan write-off.

Conclusion

NSFAS innovative approach recognizes the diverse financial backgrounds of students, offering loans to bridge the gap for the missing middle. With clear eligibility criteria, this initiative aims to empower deserving individuals pursuing higher education.

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NSFAS News

NSFAS Reapplication If You Dropped Out?

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NSFAS Reapplication If You Dropped Out?

NSFAS Reapplication If You Dropped Out?. The National Student Financial Aid Scheme (NSFAS) provides vital support to students from disadvantaged backgrounds, offering bursaries and loans for education expenses. But what happens if you drop out? Do you need to reapply for NSFAS funding? Let’s find out.

Check Also: ZA Student Portal

NSFAS Funding

NSFAS assists eligible students with tuition, registration fees, and various allowances, enabling them to focus on their studies without financial worries.

Dropping Out and NSFAS

Life circumstances can lead to a student dropping out of their course. Despite this, you can still qualify for NSFAS funding. However, you must take steps to restart your funding.

Reapplying For NSFAS

If you deregister or drop out, you must reapply for NSFAS if you plan to resume your studies in the future. This ensures you remain eligible for funding.

How to Reapply for NSFAS

Create or Log into Your myNSFAS Account

  • If you have an existing account, log in.
  • If not, create a new account on the myNSFAS portal.

Complete the Application

  • Click on ‘Apply’ and answer the questions on the screen.
  • If required, upload any supporting documents.

Submit Your Application

  • After completing the application, click ‘Submit.’
  • You will receive an application reference number.

Maintaining NSFAS Eligibility

Remember, NSFAS will only fund you if you meet the academic eligibility criteria.

Conclusion

If you dropped out of college or university but wish to return to your studies, you can reapply for NSFAS funding. By following the reapplication process, you can resume your education with the necessary financial support.

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