Students urged to sign NSFAS forms

2017-05-24 06:00

The National Student Financial Aid Scheme (NSFAS) calls on all students who have not yet signed their loan agreement forms to do so before Wednesday (31/05).

According to NSFAS, about 63 558 students have not signed their loan agreement forms and schedules of particulars.

Students are advised to sign documents at their respective universities and Technical and Vocational Education and Training (TVET) colleges.

Kagisho Mamabolo, spokesperson, said students could face the retraction of NSFAS funding, despite being approved for funding in 2017, if they fail to honour their obligation.

“The NSFAS terms and conditions state that the loan amount recorded in the loan agreement will be paid as a credit to the student account with the university for academic, residence and student levies, as well as other similar costs of pursuing the course of study for which the student is registered,” said Mama­bolo.

“No loan advance will be made unless the loan agreement is signed.

“It is our responsibility, as stated in the National Credit Act 34 of 2005, that prior to entering into any credit agreement with a consumer, we must conduct a detailed financial assessment on behalf of the client.”

Mamabolo said funded students who were eligible for financial assistance would continue to receive funding (automatically) until they completed their studies, provided they achieved the 50% pass mark.

To sign the forms, students can visit www.nsfas.org.za and click on the sign your LAF/SOP link, and then enter their ID number into the search engine.

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