Nsfas how to pay back

Nsfas how to pay back

Nsfas how to pay back: Loan repayments are based on the salary that you earn; you start paying them back once your salary is R30,000 or more per year. The repayment rate is reasonable: 3% of the annual salary, increasing to a maximum of 8% when your salary reaches R59,300 or more per year. This means you will pay back R900 a year on a salary of R30 000 a year, or R84 per month. Not a bad deal, especially when you consider that the interest charged on the loan is subsidised at 80% of the rate that the commercial rate banks would charge.

Even though the NSFAS Act of 1999 allows NSFAS to have employers deduct loan repayments from the monthly salaries of those who’ve been assisted by the scheme, about 20% of NSFAS recipients have never paid back a cent. In 2013, NSFAS was owed R15.6-billion in unpaid loans. This means the next generation of needy students have to fight that much harder for a piece of the pie. So if you get NSFAS funding and you get your degree, be a good sport and pay back the money.

Ways to Pay Back NSFAS Loan – Nsfas how to pay back

 

Electronic Funds Transfer (EFT)

If you would like to do an EFT each month these are our bank details.
Name of Account: NSFAS
Branch Code: 210554
Bank: First National Bank
Account Number: 500 600 28203
Please use your ID Number (6711165000000) as a reference when making payments

NSFAS is added as a predefined beneficiary at the following banks:

Just look for “NSFAS” in their list of beneficiaries

Debit Order

If you don’t want to worry about remembering to pay your NSFAS loan every month, this is a good option for you. Just complete the electronic debit order form and submit it.
OPEN THE ELECTRONIC DEBIT ORDER FORM

OR

Complete the attached form and email it back to recoveries@nsfas.org.za

Salary Deduction

Your employer can make deductions from your income and pay it over to NSFAS. Print and complete the form and submit to your employer. OPEN THE EMPLOYER DEDUCTION FORM


Overview of Public Universities in South Africa

Here's an overview of some public universities in South Africa, including general admissions requirements and estimated application periods. Keep in mind, specific program requirements and dates can vary significantly, so it's important to check each university's official website for the most current information.

University of Pretoria

  • Admissions Requirements: National Senior Certificate with minimum scores in specific subjects related to the chosen program; for international students, equivalent qualifications.
  • Application Period: Usually opens in March and closes at the end of July for most programs.

University of Cape Town

  • Admissions Requirements: National Senior Certificate with pass levels required for degree study; subject-specific requirements depending on the program.
  • Application Period: Application opens in April and closes at the end of July.

Stellenbosch University

  • Admissions Requirements: National Senior Certificate with required marks; some programs have additional testing.
  • Application Period: Opens in March and typically closes at the end of June.

University of the Witwatersrand

  • Admissions Requirements: Matriculation certificate with university exemption; required scores vary by faculty.
  • Application Period: Begins in March and ends on the 30th of September.

University of Johannesburg

  • Admissions Requirements: Matric exemption with a minimum APS score; specific subject requirements based on the faculty.
  • Application Period: Opens in April and generally closes by the 30th of September.

University of the Free State

  • Admissions Requirements: National Senior Certificate with specific marks for the program applied to; additional requirements for certain courses.
  • Application Period: Typically opens in April and closes at the end of August.

University of Venda

  • Admissions Requirements: Completion of the National Senior Certificate with an endorsement for diploma or degree studies; specific APS scores needed.
  • Application Period: Usually from May to September.

University of Fort Hare

  • Admissions Requirements: National Senior Certificate with university exemption; certain programs may have specific requirements.
  • Application Period: Opens around May and closes at the end of September.

University of the Western Cape

  • Admissions Requirements: National Senior Certificate with specific performance levels; additional requirements for certain programs.
  • Application Period: Generally from May to September.

North-West University

  • Admissions Requirements: National Senior Certificate with university exemption; program-specific requirements may apply.
  • Application Period: Opens in March and usually closes by the end of August.

Rhodes University

  • Admissions Requirements: National Senior Certificate or equivalent; minimum academic performance in certain subjects.
  • Application Period: Applications open in April and close at the end of September.

Nelson Mandela University

  • Admissions Requirements: National Senior Certificate with required scores for chosen programs; portfolio or additional tests for some faculties.
  • Application Period: Opens in April, with a deadline at the end of August for most programs.

Cape Peninsula University of Technology

  • Admissions Requirements: National Senior Certificate with specific scores; additional requirements for certain courses.
  • Application Period: Opens in May and typically closes by the end of September.

University of Limpopo

  • Admissions Requirements: Senior Certificate with endorsement for diploma or degree courses; specific APS scores for different programs.
  • Application Period: From April to September.

University of Zululand

  • Admissions Requirements: National Senior Certificate with an endorsement for bachelor’s degree studies; specific score requirements for various programs.
  • Application Period: Usually between April and November.

Central University of Technology

  • Admissions Requirements: National Senior Certificate with specific scores for the chosen field of study; additional criteria for certain programs.
  • Application Period: Application period generally starts in May and ends in October.

Vaal University of Technology

  • Admissions Requirements: National Senior Certificate with a pass that qualifies for admission to bachelor’s degree, diploma, or higher certificate programs.
  • Application Period: Typically from May to September.

Walter Sisulu University

  • Admissions Requirements: National Senior Certificate with required scores for chosen programs; additional criteria for certain faculties.
  • Application Period: From April to September.

This list provides a starting point for understanding the admissions landscape across South Africa's diverse higher education institutions. Given the variability in programs and requirements, it's crucial to consult each university's website for the most accurate and up-to-date information.