If you have ever wondered the difference between NSFAS and Fundi, don’t worry we here to give you the clear difference between National Student Financial Aid Scheme (NSFAS) and Fundi.
What is NSFAS?
The National Student Financial Aid Scheme (NSFAS) is a government student bursary which receives funding from, and reports to the Department of Higher Education and Training.
Under the NSFAS bursary scheme, students enjoy free tuition fees, accommodation fees as well as give you transport, living and book allowances to make sure that your higher education is covered far beyond what you expect.
NSFAS provides financial assistance in the form of scholarships to qualified students at South African public universities and technical and vocational education and training (TVET) colleges.
The requirements to be funded are as follows:
- Must be a South African citizen.
- All SASSA grant recipients qualify for funding.
- Applicants must have a combined household income of not more than R350 000 per annum
- The person with a disability: Combined household income must not be more than R600 000 per annum
- If you started studying before 2018 and your household income is not more than R122 000 per annum.
- If you wish to study or are already studying at a public university or TVET college and come from a family with an income of R350 000 or less, you qualify to be funded by NSFAS
What is Fundi?
Fundi is a South African Education Finance specialist. They also strive to assist students fulfill their dreams by covering their university school fees.
They cover the following:
- Study loans
- Short courses
- Accommodation loans
- Executive loans
- MBA funding
- Study device loans
- Educational tools
Fundi’s online website helps students find accommodation, buy airtime and data, and access e-books. Student and short-term loans cover the cost of long-term and short-term course tuition.
Once you’ve found an apartment, Fundi can help you pay the rent in smaller, more affordable installments.
Executive loans help cover the cost of a professional degree. MBA loans help you finance your Master of Business Administration degree.