NSFAS 2023 funding decisions have been released

NSFAS 2023 funding decisions have been released

For the 2023 academic year, the National Student Financial Aid Scheme received more than 1 million bursary applications. The funding decisions for the current academic year will be announced soon for many of the students who submitted bursary applications.

Students from disadvantaged backgrounds who cannot afford to pay for tertiary education are offered financial assistance through the National Student Financial Aid Scheme (NSFAS).

Through NSFAS, deserving students can access higher education regardless of their financial background. In South Africa, the organization offers financial aid to students attending universities, TVET colleges, and other tertiary institutions.

The NSFAS has revealed when new bursary applicants can expect to receive the status of their application. Some bursary applicants received funding decisions immediately under the financial aid scheme.

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From Monday, 6 February 2023, Nsfas will notify students of their funding decisions for bursaries they applied for. For the 2023 academic year, applicants will know if they have been funded once they receive their NSFAS status.

By the 6th of February 2023, institutions will receive the funding list for non-SASSA applicants and returning students. 

The Nsfas explained that applicants who do not belong to the South African Social Security Agency and returning students are required to submit financial and/or academic eligibility verifications. Among the third-party entities that help Nsfas complete this verification process are banks and institutions. 

Funding decisions have already been made for one cohort of students. Sassa provides provisional approvals for funding to students who receive grants distributed by the organization.

Sassa applications submitted by First-Time Entering (FETN) applicants received funding decisions immediately upon submission. The status of their applications was sent instantly to these students,” explained Nsfas.

Because Sassa grant beneficiaries meet the financial eligibility requirements for Nsfas funding, Nsfas is able to provisionally approve funding applications for them. As soon as an institution confirms a student’s registration, their funding will be confirmed.

If Students funded by Nsfas receive a comprehensive bursary meant to cover the costs associated with their studies. In addition to receiving several allowances, they will be paid full tuition and housing costs.

It is possible for students to appeal the NSFAS decision if they receive an unsuccessful status for their application. In any case, appeals must be submitted before the financial aid scheme’s deadline of 20 February 2023. 

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