Durban University of Technology DUT NSFAS Loans 2022/2023
Durban University of Technology DUT NSFAS Loans; See details on Durban University of Technology DUT NSFAS Loans 2022/2023
NSFAS Loans (National Student Financial Aid Scheme)
• NSFAS loans are government loans that are allocated to all tertiary institutions with the proviso that it is awarded to financially needy and academically deserving students.
• Low Interest on NSFAS loans will be calculated and is tied to the inflation rate.
• You will be expected to make your own/family contribution toward the total costs of your studies.
• Up to 40% of the loan may be converted to a bursary dependent on your year-end results.
• All NSFAS students must re-apply for the loan before the 31 August of the current year for the following new academic year
7. Financial Need
The NSFAS National Means Test (Formula) is applied to determine financially needy students. The formula takes into account household incomes, a number of dependents, and cost of living allowances. Depending on the outcome of the Means Test a family contribution has to be made.