How does NSFAS make sure that students pay back the loan? Scholarship Programme 2021
The How does NSFAS make sure that students pay back the loan? is currently looking to fund undergraduates looking for scholarships.
As a NSFAS funded student, or in general, you may be curious as to how NSFAS ensures that students funded before 2018 pay back their loan.
Students funded after that date will be a bit confused! Do you have to pay back NSFAS? The good news for recent beneficiaires of NSFAS is that it is now a grant and you do not have to pay anything back.
The news is not so good for students who received funding before 2018. When those students were accepted for funding, the students signed a legal contract that has a focus on the loan. NSFAS also works with organisations such as SARS to find out the NSFAS beneficiaries who are employed and earning more than R30 000 per year.
If you do have to pay back a loan to NSFAS all deposits and transfers need to be into the NSFAS bank account using your ID number as your reference number. For more information about ways to make payments, you can email collections@nsfas.org.za.
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