Nsfas Banking Details
NSFAS was established according to the National Student Financial Aid Scheme Act (Act 56 of 1999) and incorporated TEFSA (Tertiary Education Fund of South Africa). From 1993 to 2000, TEFSA was the primary non-profit company in terms of Section 21 of the Companies Act and ceased to operate in July 2000. All existing loans on the TEFSA books were transferred to NSFAS.
The NSFAS Act enables any student to apply for a bursary from NSFAS but allows the board to impose conditions, generally, or in respect of a particular loan or bursary. Such conditions include the use of the means test and the loan conversion of up to 40 per cent of any loan as an incentive for academic success.
It provides for payment by NSFAS of the amount of the loan or bursary “to the designated higher education institution”, rather than to the applicant. It also allows NSFAS to enter into what is in effect an agency agreement with higher education institutions (HEIs) or further education and training (FET) colleges.
Name of Account: NSFAS Branch Code: 210554 Bank: First National Bank Account Number: 500 600 28203 Please use your ID Number (6711165000000) as a reference when making payments nsfas banking details.
How To Log In To MyNSFAS Account?
Here is how you can create your myNSFAS account:
- Go to www.nsfas.org.za and click on “myNsfas account“.
- Enter your username and password. The username is usually your email address.
- Click on the “My personal details” tab.
- Update your cellphone number and/or email address to your current one.
- Click “Update your details” to proceed.
- A Time Pin (OTP) will be sent to the new number and email address that you have provided.
- Enter the OTP and click submit.
- Your details will immediately be updated.
If you’re an applicant with an existing account, you can sign in using your usernames and password or Facebook and Google accounts.