Do you still have to pay back NSFAS?

An answer to Do you still have to pay back NSFAS? is YES. The reason is that, NSFAS has to be paid back! Students borrow the money to cover their study costs. However, the loan only needs to be repaid after completing your qualification, upon leaving University or College, found employment / in business, and earning R30,000 or more annually.

Every cent of a loan repayment goes towards helping other students with funding.

Ways To Repay Your NSFAS Loans

Debit Order

If you don’t want to worry about remembering to pay your NSFAS loan every month, this is a good option for you. Just complete the electronic debit order form and submit it. To find the NSFAS debit form, click here. Complete this form and email it back to collections@nsfas.org.za.

Electronic Funds Transfer (EFT)

If you would like to do an EFT each month these are the NSFAS bank details.

  • Name of Account: NSFAS
  • Branch Code: 210554
  • Bank: First National Bank
  • Account Number: 500 600 28203
  • Please use your ID Number (6711165000000) as a reference when making payments

Should you bank with Standard Bank, Capitec, FNB or Absa, NSFAS is added as a predefined beneficiary and you can then just  look for “NSFAS” in their list of beneficiaries.

Salary Deduction

Your employer can make deductions from your income and pay it over to NSFAS. Print and complete the form and submit to your employer.

NSFAS provides funding for higher education studies to South African students.

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