22 June 2017

South Africa: Students Urged to Sign Loan Agreements Within 30 Days

Pretoria — The National Student Financial Aid Scheme (NSFAS) has urged students, who received funding, to sign their Loan Agreement Forms (LAFs) within 30 days from the day they receive the forms.

The NSFAS terms and conditions states that the loan amount recorded in the loan agreement will be paid as a credit to the student account with the university, for the academic, residence, student levies and other similar cost of pursuing the course of studies for which the student is registered.

No credit agreement can be concluded without the signing of the agreement form and acceptance of the terms and conditions thereof.

NSFAS Manager: Corporate Communications, Sello Molekwa, said that the 31 May deadline does not apply anymore. Instead, students will be given 30 days to sign their LAFs.

"The announcement was that the deadline does not apply anymore and what will happen is that each student will be given 30 days to sign their LAF, from the day they receive the LAF from NSFAS.

"So, if one student receives their LAF today, they will have 30 days from today, to sign it. If another one receives their LAF next week, they will have 30 days from that day, to sign. This means the closing dates to sign will differ from student to student," Molekwa explained.

The funded students will receive a link via email or SMS to sign their agreement form.

Up until 12 June 2017, 211 342 students across universities and Technical and Vocational Education and Training colleges had signed their forms.

For queries, students can contact 0860 067 327 or info@nsfas.org.za.

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