'Funding eligible' meaning for NSFAS: What it means and how to qualify
The National Student Financial Aid Scheme, or NSFAS, is a government-funded student bursary providing financial aid for students who require extra financial assistance. Who qualifies for the funding, and what does the process entail? Here, we discuss the 'funding eligible' meaning for NSFAS and other essential information.
Source: UGC
TABLE OF CONTENTS
- 'Funding eligible' meaning for NSFAS
- What does it mean when NSFAS says assessing financial eligibility?
- How long does it take for NSFAS to assess financial eligibility?
- What is required to qualify for NSFAS funding?
- What are the required documents?
- How do you know if NSFAS has funded you?
- What should you do when your NSFAS status says funding eligible without admission?
- What is the next step after funding eligibility for NSFAS?
Established in 1999, NSFAS reports to and receives funding from the Department of Higher Education and Training. It provides loans and bursaries to students to study at public universities and Technical and Vocational Education and Training (TVET) colleges nationwide.
NSFAS funding is only available to those who qualify and is only given to financially underprivileged students. Who qualifies for the financing, and what must students provide when applying?
'Funding eligible' meaning for NSFAS
Before further discussing the NSFAS funding process, what does 'funding eligible' mean for NSFAS? The funding eligible notification means that you, as a student, qualify for the organisation's funding based on the information provided to them by you.
What does it mean when NSFAS says assessing financial eligibility?
An NSFAS status check will help you see whether you qualify for funding. You will see the status of your application process when you log into your myNSFAS account and track your application, which may say 'assessing financial eligibility'.
If it says 'assessing financial eligibility', it means the institution is verifying whether you are eligible for funding. The notification means the confirmation of whether or not you will obtain the funding will appear shortly.
Source: UGC
How long does it take for NSFAS to assess financial eligibility?
Knowing what finding eligible means, how long does NSFAS funding eligibility take? According to the Bursaries Portal, the process can take anywhere from 72 hours to five days to liaise with SARS and confirm the household's income bracket is reported accurately and that all information and documentation have been submitted and are correct.
What is required to qualify for NSFAS funding?
According to NSFAS, here are the following requirements if you wish to receive NSFAS funding:
- You must be a South African citizen or permanent resident.
- Your combined gross household income cannot surpass R350,000 yearly.
- If persons live with disabilities in the home, the combined gross household income cannot surpass R600,000 yearly.
- You must have a valid email address and cell phone number.
- SASSA recipients automatically qualify for NSFAS.
Regarding the academic requirements, applicants must have passed Grades nine to 12 to obtain funding to attend a TVET college and a Grade 12 pass to receive funding to participate in a university or TVET college. You must also meet the academic admission requirements of your chosen qualification before funding is allocated to you.
What are the required documents?
The following documents are required when applying for NSFAS funding:
- A copy of your student ID (where applicable) or birth certificate.
- A copy of your parents', guardians', or spouse's ID.
- A photocopy of your smart card (both sides are required).
- Proof of income (where applicable).
- Proof of persons living with a disability regarding income limit (where applicable).
Source: UGC
If you are an applicant considered a 'vulnerable child' by the Department of Social Development, you must provide a completed Vulnerable Child Declaration form from a social worker. Applicants who have indicated they have no family member details or abridged birth certificates must complete a declaration (form provided online).
How do you know if NSFAS has funded you?
The Gauteng Tourism Authority reported that you can check your application for funding through the NSFAS website. Here are the simple steps:
- Log on to the official NSFAS website through your myNSFAS account.
- Browse the website and select the 'track funding progress' tab.
- Your application status will be displayed afterwards.
What should you do when your NSFAS status says funding eligible without admission?
Suppose your NSFAS status says funding eligible without admission. In that case, it means that you qualify for funding as a student, but your admissions application to your chosen college or university has not been approved yet.
In this instance, you will receive an SMS from the University Financial Aid office saying the university system allows you to register. If you wish to know where your admissions status stands, follow up with your college consultant regarding whether your application has been accepted for clarity on the application's status.
Source: Getty Images
What is the next step after funding eligibility for NSFAS?
Careers Portal reports that once your funding has been approved, you must be accepted into the college or university of your choosing. Once you have registered and been accepted, NSFAS sends the fees directly to the academic institution.
The 'funding eligible' meaning for NSFAS shows whether a student has been accepted for the institution's funding. The application process is quick and efficient, as is the process for checking whether your funding has been approved.
DISCLAIMER: This article is not sponsored by any third party. It is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions. Any action you take based on the information presented in this article is strictly at your own risk and responsibility!
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