Ever since the birth of the #FeesMustFall movement, the National Student Financial Aid Scheme (Nsfas) has gone from being a student loan to being a bursary that supports a great number of individuals that were in need of funding their tertiary qualification. However, the government bursary scheme strictly funds students who meet its eligibility criteria.
The National Student Financial Aid Scheme (NSFAS) provides financial assistance to students who are not able to fund their studies but plan to pursue their studies at a South African public universities or Technical Vocational Education and Training (TVET) Colleges.
This applies to students who will be entering tertiary for the first time and also those who previously studied without funding from the bursary scheme.
Over the years, the demand for funding has exponentially increased and fortunately, Higher Education has also responded by funding more students.
The government bursary scheme has a strict qualifying criteria that students ought to meet prior to applying for the bursary and also maintain a certain academic level to continue to be funded by Nsfas.
The Minister of Higher Education, Blade Nzimande, has announced that the 2023 academic eligibility criteria requirement for university students will be implemented as follows:
- First Time Entering must achieve 50%+1 of their registered credits to be funded by Nsfas in the following academic term.
- Continuing and Returning Students must achieve 55% of their registered course credits to be funded by Nsfas in the following academic term.
According to Nzimande, all returning university students must meet ongoing academic eligibility requirements in order to remain funded by Nsfas and as of 2024, the N+ Rule for distance university students will be reviewed.
Nzimande has also announced that the academic progression criteria will increase from 55% to 60% over time.
The Department of Higher Education and Training consultation engagements with Universities South Africa, South African Union of Students, and university executives to determine the 2023 academic progression rates.
Those who have not applied for Nsfas funding for the 2023 academic have also been reminded that applications are still open until 31 January.
