Question

(a) Explain when interest is charged by NSFAS on study loans.

(b) State three expenses that are covered by NSFAS funding.

(c) State the cut-off date for applications for NSFAS funding in 2021 for the 2022 academic year.

(d) Give the full web-address used in your research on NSFAS funding.

Answer 1

a. The NSFAS charges interest on study loans at the beginning of every financial year i.e. April every year.

b. The NSFAS covers the following:

• Book allowance of up to R 5000 per year.
• Student accommodation as charged by the university.
• Living allowance of up to R 14, 400 per year.

c. The online application for the 2022 academic year will close on 30th November 2021.

d. The full website used for the NSFAS research is: https://www.nsfas.org.za/content/