What Happens When Multiple Dependents from One Household Qualify for the NSFAS Loan Scheme?

In 2023, NSFAS introduced the NSFAS Missing Middle Loan as part of their Comprehensive Student Funding Model. This loan is available for both undergraduate and postgraduate students who do not qualify for NSFAS bursaries.

When more than one dependent from a household qualifies for the NSFAS Loan Scheme, eligibility is not affected as long as the total household income remains within the R350,000 to R600,000 bracket.

According to Vuyokazi Mafilika, Strategic Enablement Executive at NSFAS, as long as the total household income does not exceed the threshold, applicants remain eligible for funding.

Once approved, students will need to sign a loan agreement. If they perform well, up to 50% of the loan can be converted into a bursary. Additionally, rejected NSFAS bursary applicants will automatically be reassessed for the Missing Middle Loan scheme.

The loan scheme prioritizes Science, Technology, Engineering, and Mathematics (STEM) programs, which receive 70% of the funding, while 30% is allocated to Humanities and social science programs.