UNIVERSITY OF CAPE TOWN(UCT) NSFAS 2023
Welcome to the University of Cape Town(UCT) NSFAS 2023!
Updates on the University of Cape Town(UCT) NSFAS 2023 application are available now. First of all, any student who wishes to apply will have to create a mynsfas Account, then the student should proceed to fill out an online application form. Details of the steps below are outlined below.
NB: For students who already applied and have received NSFAS funding, do not need to reapply. Students will have to sign an agreement form, after which loans will be released. Every student must meet the necessary requirement of having gained a progressive score of at least 50% to remain eligible. Students who fall below this score are likely to be excluded from funding.
Students are advised to purge themselves of the very popular conception of the NSFAS as a bursary. This is a student aid loan facility made available by the government to support students who due to certain reasons can’t afford to pay their fees. Though on some special occasions portion of the loan is converted into a bursary, this is based on the student’s academic performance. This bursary may be up to 40% of the initially loaned amount.
The necessary documents required to start your application are listed below;
To be eligible, students must:-
- Be South African citizens;
- Be studying for a first qualification;
- Be financially needy;
- Demonstrate the potential to succeed academically.
The NSFAS Means Test is used to calculate the amount of the loan to which any student is entitled. Students with a gross annual family income in excess of R180 000 will seldom be eligible for funding.
There are very limited funds are available so, applicants will not necessarily be granted funding from the NSFAS. So, therefore, we urge applicants to submit their applications early as possible.
In cases where a student passes all subjects in the year that funding is obtained from NSFAS, 40% of the value of the NSFAS loan is converted into a bursary and is credited to the student’s NSFAS accounting during the course of the following year.
Loans are to be prepared once the student is employed and earning a salary in excess of R26 300 per year. Repayments will be totally based on the individual’s earnings.
You can also visit the school website for more info @http://www.uct.ac.za