This page will direct and help you to know the detailed steps required in successfully applying for the UCT NSFAS loan. It should be emphasized that the South African government established this loan to satisfy the needs of deserving students who show academic promise.
The University of Cape Town (UCT) NSFAS Application is an easy process. A student will have to create an Account, then proceed to fill an online application form. Details of the steps below are outlined below.
Students who have already applied for and been awarded NSFAS funds are not required to reapply. These students will only need to sign an agreement form before their loans are released. It should be remembered that in order to remain eligible, a student must get a progressive score of at least 50%. Students who score below this level are likely to be denied financial aid.
The NSFAS loan is frequently misunderstood as a bursary; however, this is not the case. The government provides this student aid in the form of a loan to help poor students. In some cases, however, a portion of the debt may be converted into a bursary based on academic success. This bursary could be worth up to 40% of the loaned amount.
see the UCT prospectus 2022 for more information.
Below are the necessary documents required to start your application
To be eligible, students must:-
- Be South African citizens;
- Be studying for a first qualification;
- Be financially needy;
- Demonstrate the potential to succeed academically.
To calculate the value of the loan to which a student is entitled, the NSFAS Means Test is used. Students with a gross annual family income in excess of R180 000 will seldom be eligible for funding.
Because finances are limited, applicants will not always receive support from UCT NSFAS. As a result, it is critical that applications be filed as soon as possible.
If 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.
Once working and earning an income of more than R26 300 per year, the student will be required to begin repaying the loan. The amount owed will be determined by the individual’s wages.
You can visit the school’s official website for more info.