Students who have missed the Wednesday deadline for the National Student Financial Aid Scheme (NSFAS) bursary applications still has a chance after the scheme extended the deadline for applications by two weeks. The decision was taken during a meeting between the NSFAS board and the South African Union of Students (SAUS) on the scheme's readiness for the start of the 2024 academic year.

The 2024 application cycle will open today and close on 15 February 2024. In a joint statement issued on Thursday, the scheme and student leaders union agreed that students who have already applied for the NSFAS bursary scheme need not submit a new application for the student loan scheme. "All students who did not meet the bursary scheme eligibility criteria, however, meet the loan scheme eligibility criteria, will be automatically offered a loan for their consideration," NSFAs spokesperson Ismael Mnisi said. Prospective loan scheme applicants can apply through an online application form, where they create a profile, apply, and submit the application.

Mnisi said that students whose annual household income is between R350 000 to R600 000 and would like to go to public universities, will be eligible for the loan. The student loan scheme is the first phase of the implementation of the comprehensive student funding model. NSFAS reminded all applicants for both the bursary scheme and the loan scheme to submit a consent form to verify relevant information from third parties. "The information is required to verify the employment status and income level of the parents, guardians, or spouses of the applicant. It is mandatory for applicants to download and upload a completed Consent form on the NSFAS website, portal, or mobile app," said acting board chairperson Professor Laurens Van Staden.