PRETORIA - The National Student Financial Aid Scheme (NSFAS) has announced that over one million students have been provisionally funded for the 2024 academic year.

According to South African Government News Agency, Professor Lourens Van Staden, the scheme received a total of 1,936,330 applications by the 16th of February, 2024. Of these, 1,244,854 applications have been provisionally approved as of the 1st of March, with the process still underway for many applicants.

During a media briefing held at the Government Communication and Information System in Pretoria, Van Staden detailed the current status of applications. The briefing revealed that NSFAS has received 108,345 registrations, with 59,723 applications pending evaluation and another 94,816 awaiting supporting documentation. Additionally, 84,225 applications were withdrawn, 52,038 are in progress, and 136,468 have not started the application process after creating profiles.

The scheme has rejected 243,113 applications to date, with 15,174 appeals lodged by students seeking reconsideration. This announcement comes in the wake of the application deadline on February 15, 2024. Van Staden emphasized NSFAS's commitment to refining its application and evaluation processes to ensure a smooth experience for applicants. The scheme aims to work closely with the South African Revenue Service (SARS) to accurately verify the financial eligibility of applicants, urging the submission of accurate information to expedite the funding decision timeline.

Furthermore, NSFAS is focusing on applicants who have received firm university offers or those enrolled in Technical and Vocational Education and Training (TVET) colleges, with around 23,000 applications processed daily. On the topic of loans, the scheme received 30,728 applications by February 16, with a special focus on students who fall within the loan threshold but exceed the bursary income criteria. Van Staden disclosed that NSFAS is in the final stages of confirming student loans for the "missing middle," expecting to support approximately 31,800 students with loans for STEM and social sciences, based on a 70/30 split.

With the closing of both bursary and loan applications on February 15, 2024, NSFAS is poised to provide significant financial support to a vast number of South African students, underlining its pivotal role in facilitating higher education accessibility.