More than 1 million bursary applications were received by the National Student Financial Aid Scheme for the 2023 academic year. Many of the students who submitted bursary applications will soon find out if they will be funded for the current academic year.
The National Student Financial Aid Scheme (Nsfas) has revealed when new bursary applicants will receive their Nsfas applications status. This comes after the financial aid scheme immediately provided funding decisions for some bursary applicants.
Students who submitted bursary applications to Nsfas will receive their funding decisions from Monday, 6 February 2023. Once applicants receive their Nsfas status, they will know if they are funded for the 2023 academic year.
The funding list for Non-SASSA applicants and returning students will be released to institutions by the 6th of February 2023.
Nsfas explained that funding applications from non-South African Social Security Agency applicants and returning students require financial and/or academic eligibility verification. To complete this verification process, Nsfas enlists the help of third-party entities including institutions and banks.
One cohort of students already received their funding decisions. Students who are beneficiaries of grants distributed by Sassa receive provisional approval for funding when they submit their applications.
“Nsfas made funding decisions for First-Time Entering (FETN) Sassa applications immediately on application. These students were instantly informed of their application status” explained Nsfas.
One of the main reasons why Nsfas can provisionally approve funding applications from Sassa grant beneficiaries is because they meet the financial eligibility required to qualify for Nsfas funding. Students’ funding will be confirmed once their registration at an institution is finalised.
If a student is funded by Nsfas, they receive a comprehensive bursary that aims to cover the costs related to their studies. This includes the full payment of their tuition and accommodation costs as well as receiving several allowances.
Students who receive an unsuccessful Nsfas application status can appeal the decision made by Nsfas. However, appeals must be completed before the 20 February 2023 deadline announced by the financial aid scheme.