How Much Should A Person Earn to Qualify For NSFAS? The applicant is financially eligible if the household income is R350,000 or less. 3.4. 5.1 NSFAS may use any third-party data source, over and above the declared household income to determine an applicant’s financial eligibility.
Who is NSFAS for?
NSFAS prioritizes students from low-income households who wouldn’t otherwise be able to afford university or TVET college fees.
Their mission is to broaden access to education and empower individuals to contribute meaningfully to South Africa’s future.
Income Thresholds for NSFAS Funding
The single most important factor that qualifies one for NSFAS is the gross income of the household.
The following is a succinct explanation of the income limits:
- General Threshold: In the case of the majority of applicants, the total combined household income must be less than R350 000 per annum. This thereby comes to around R29 167 per month.
- SASSA Grant Recipients:Should you or any member of your household benefit from a grant from the South African Social Security Agency (SASSA). You will be fully eligible for NSFAS funding irrespective of your household income.
- Students with Disabilities:Such students have a higher income threshold. The total income of the family or household unit should not exceed R600,000 per annum (approximately R50,000 monthly).
- Previous Qualification Holders (Started Studying Before 2018):If you commenced your studies prior to the year 2018, a particular undue hardship exists. You may still be regarded as eligible if your total gross household income is below R122,000.
What if My Parents Earn More Than the Threshold?
In the event that your family’s income surpasses the set limitations, you may also fail to qualify for an all-inclusive NSFAS bursary.
Nonetheless, there are other options that can be considered:
- NSFAS Student Loan Scheme: NSFAS implements a student loan scheme to the applicants who comes from the family income as low as R350, 000 and does not exceed R600,000 per annum. The scheme covers the costs of the student and allows repayments to begin once the student has graduated.
- Alternative Bursaries:In South Africa, one can find a wide variety of public as well as private bursary schemes. Seek research bursaries relevant to your qualifications from either Universities, Government Ministries or even private institutions.
