NSFAF Intake for 2023-2024 - Apply for NSFAF Online

Applications commenced on 01 December 2022 for Undergraduates, Postgraduates and Vocational applicants to study at local and SADC/International recognized institutions with accredited programs.

The deadline for applications is 31 March 2022.

Please note that mature age applications will only be accepted for local public institutions.

It is mandatory that all required documents are uploaded during the application period as no additional documents will be accepted after the deadline. See the content below to understand specific requirements per funding category (undergraduate, postgraduate and vocational).

Due to funding limitations, applications are subject to the below criteria:

Applicants apply towards priority fields of studies which are available and can be viewed at https://www.nsfaf.na/priority-fields-of-studies/
Total combined debt to NSFAF may not exceed N$350,000 (previous debt plus loan to be awarded).
If you have previously benefited from the NSFAF, contact Recovery to acknowledge your debts before a new award is made.
Applicants are subjected to vetting with employment status (including self-employment).
Financial assistance is granted, subject to availability of funds.
Funding parental income threshold is N$500,000 for students who are 28 years of age or younger and unemployed.
Funding own/spousal income threshold is N$300,000 for employed students or above the age of 28 and unemployed.

Note:

Students will be provisionally awarded provided the applicant meets the NSFAF basic funding requirements.
All applicants will be required to apply online,
Due dates are final and will not be extended.

Log onto https://students.nsfaf.na/pages/home.aspx to launch your application.

For enquiries or further assistance during the online application process, we have made available the following contact details: +264 61434 6016/19/ 21 / 22/ 35/ 37/ 39 / 42 / 49 / 50 or via e-mail: info@nsfaf.na

NSFAF Online Application 2023-2024

The Namibia Students Financial Assistance Fund notifies potential applicants for 2022 academic year about important information and documents required for application.

Prospective applicants are advised to take note of the following information:

NSFAF provides financial assistance to eligible students mainly in a form of loans.
No student should be considered for NSFAF funding if he/she has already benefited from a programme at the same level of qualification framework.
A student may only receive financial assistance from the Fund to study at any two qualification levels (i.e. Diploma, Bachelor’s Degree, Honour’s Degree, Master’s Degree, or Doctoral Degree). Funding for a third qualification level shall only be permissible if a debtor has settled previous debts. This is necessary to allow the opportunity for other students to benefit from the allocated student funding and also in case of a loan to avoid over-indebting the students.
A student who is already a beneficiary but failed/passed a previous academic year but applied for funding the following year to pursue a different programme will not be funded for the new program. NSFAF shall nullify the award upon identifying such a case.
An applicant, who fails to submit all required documents before the closing date of the application period, will be rejected.

5.1 Documents to be attached when applying for UNDERGRADUATE and VOCATIONAL studies’ financial assistance:

a) A copy of the Full birth certificate, Certified by the Commissioner of Oath;

b) A copy of a Namibian Identification (ID), Certified by the Commissioner of Oath;

c) A copy/copies of school leaving certificate(s) [Grade 11/12 or equivalent, Certified by the Commissioner of Oath, (statement of results for applicants who completed in 2022);

d) A copy of mother’s ID or Death certificate, Certified by the Commissioner of Oath or a Declaration made with the Namibian Police made by any remaining parent/guardian;

e) A copy of father’s ID/ Death certificate, Certified by the Commissioner of Oath or a Declaration made with the Namibian Police made by any remaining parent/guardian;

f) Parents/ Guardian certified payslip or with the company stamp, or Declaration made with the Commissioner of Oath, in case of unemployment;

g) A certified copy of your payslip or with the company stamp (if the applicant is employed);

h) In case the applicant is married, provide Spouse’s ID and payslip instead of parents;

i) A copy of a grade 10 or grade 12 certificate, Certified by the Commissioner of Oath (mature age applicants);

j) A copy of proof of admission and test results on mature age from a Public Institution, Certified by the Commissioner of Oath, (For applicant through mature age, applicable only to those with at least 23 years old);

k) Copy of work experience, (applicant applying through Mature Age entry, 3 years for grade 11/12 certificate holder and 5 years for grade 10 certificate holder);

l) A copy of evaluation from Namibia Qualifications Authority (NQA), certified by the Commissioner of the Oath, for all foreign qualifications (including grade 11/12 certificates).

m) Copy of a diploma on NQF level 6 for applicants applying with 22 points in 5 subjects intending to do a bachelor’s degree (local institutions only), Certified by the Commissioner of Oath

5.2 Documents to be attached when applying for POSTGRADUATE studies’ financial assistance:

a) A copy of the Full birth certificate, Certified by the Commissioner of Oath;

b) A copy of a Namibian Identification (ID), Certified by the Commissioner of Oath;

c) A copy of Bachelor’s degree at least on NQF level 7, if studying towards an honors degree, or a copy of a master’s degree if studying towards a PhD, Certified by the Commissioner of Oath. If certificates are not issued by the Institution at the time of application, attach academic records, indicating the certificate has been obtained;

d) A copy of mother’s ID/ Death certificate, Certified by the Commissioner of Oath or a Declaration made with the Namibian Police made by any remaining parent/guardian;

e) A copy of father’s ID/ Death certificate, Certified by the Commissioner of Oath or a Declaration made with the Namibian Police made by any remaining parent/guardian;

f) In case the applicant is married, provide Spouse’s ID and payslip instead of parents;

g) A certified copy of your payslip or with the company stamp (if employed);

h) A copy of the evaluation from Namibia Qualifications Authority (NQA), certified by the Namibian Police, for all foreign qualifications.

REQUIREMENTS FOR FUNDING: UNDERGRADUATE, VOCATIONAL AND POSTGRADUATE

What is a student loan?

Loan means jointly the approved Tuition Fees and Non-Tuition Fees, additional costs, bank charges, administration charges and disbursements as advanced to or paid on behalf of the Debtor by the Fund, which amount the Debtor is required to pay back to the Fund.

The Fund is entitled to demand repayment of the loan from the debtor:

Within 6 (six) months from date of expiration of the final academic year wherein he/she completed his/her studies and obtained his/ her Qualification;
Debtor has become employed or receives an income;
The Debtor abandons or cancels the studies for which the loan was granted, or the Debtor cancels the Loan
The Debtor changes from the approved Institution to another or changes his/her Qualification, without prior written approval of the Fund;
The Debtor commits any breach of the Contract;
If the Fund is not satisfied with the Debtor’s results and cancels or withdraws the loan in terms of clause 5 (Cancellation and Withdrawal of Loan) in which case the total amount expended by the Fund will become repayable;
In the event that the Debtor has breached this Contract prior to the death of the Debtor, repayment may be demanded from the Debtors’ estate.

What are the methods of repayment?

Direct Bank Deposits (Cash/Cheque Deposit)
Salary Deductions
Debit Orders
Electronic Funds Transfer (EFT)

BANK DETAILS:
Account Name: NSFAF, Bank Name: Bank Windhoek
Account number: 800 484 589 4
Branch Code: 482 172,
Branch Name: Kudu Branch

How do I provide proof of payment?

A proof of payment should be submitted to the NSFAF Recovery Division or e-mail at: recovery@nsfaf.na and you will be issued with your updated debtor’s account statement.

How do I pay my loan from abroad?

If the beneficiary resides abroad, he/she can pay by Electronic Funds Transfer (EFT) directly into the NSFAF Bank Account and email proof of payments to the respective consultant dealing with his or her account or at: recovery@nsfaf.na.

Do students have to pay the money back after completing their studies?

Yes, if it was a loan. For the Income Contingent Loan, the repayments start when the individual is employed. By paying back your NSFAF study loan, you are assisting someone else who needs it just as much as you did.

When am I expected to repay my student loan?

The time required to start repaying is within six months of completing studies. If a student cannot find employment, it is possible to postpone repayment; in such a case, the request for postponement of repayment must be made to the Board of NSFAF in writing.
Immediately once the beneficiary has secured employment and earning a taxable amount
When the student has not completed their studies and thus committed breach of contract

What is the process of paying back a loan?

Complete contact details, indicating postal and residential addresses including actual and permanent residence;
Details of his/her employer and employment status;
Student’s consent to the Loan/Grant agreement for loan deductions after the completion or cancellation of studies;
Any change in contact details, employment status and details of his/ her employer.
Also Refer to NSFAF Student Loans Repayment Guide

How often do you send Loan statement?

Statements are send via emails once each month.

What are the modes of repayment?

Direct Bank Deposits
Salary Deductions
Electronic Funds Transfer
Debit OrdersBANK DETAILS:
Account Name: NSFAF
Account number: 800 484 589 4
Branch Code: 482 172
Bank Name: Bank Windhoek

How do I pay my loan from abroad?

If the beneficiary resides abroad, he/she can pay by Electronic Funds Transfer into NSFAF Recovery Account and email proof of payments to the respective consultant dealing with his or her account.

What happens if I default?

The loan is charged a compounded interest. Therefore when one defaults they suﬀer a compound interest charged on the account.

Can you clear in one installment?

Yes, One can make the loan settlement at an installment procedure.

Does NSFAF charge ledger fees?

There are no ledger fees charged on all NSFAF student loans.

Can I repay my loan in one instalment?

Yes, one can repay the loan in one installment. A Loan Redeemed Certificate will be issued to the debtor.

What happens after clearing my loan?

Once the loan is fully settled, you will be issued with the Loan Redeemed Certificate of Loan Clearance.

How do you determine the monthly deduction rate?

All repayment/s shall be made by way of equal monthly instalments in arrears on or before the 3rd (third) business day of each month, the first payment being due in the month following the month in which the Loan becomes due and payable in terms of the demand (“Due Date”) hereof;

Unless the parties sign an addendum to the contrary, the amount of the instalments per month shall be equal to 15% of the Debtors annual earnings (gross salary less income tax and pension fund contributions), provided that the maximum period for repayment may not exceed 3 times the period over which the loan was received by the Debtor.

What happens if I do not pay back my loan?

If a debtor fails to make payment as provided for in the Act (no.7 of 2014) and signed contract, his or her name will be placed by the Board on a list of defaulting debtors. Nothing prevents the Board from instituting legal action in a court with jurisdiction within Namibia, against a student to recover the amount due to the Fund in terms of a loan.

How do I get more information on my repayment options?

You can contact our recovery division on 061 420 647 or email recovery@nsfaf.na for further details.

What happens when I clear my loan?

You will be issued with a Redeemed Letter/ certificate of clearance.

What happens if I overpay?

NSFAF will refund the amount overpaid by the debtor.

What happens if I die during my repayment process?

NSFAF can waive the loan upon request from your next of kin. The request should be in writing and substantiated with a certified copy of the death certificate.

What happens if I change employers?

If the beneficiary was paying through employer’s deduction, a new arrangement can be made with the new employer for the salary deduction to continue. If the beneficiary was paying through other methods like direct deposit, debit orders and EFT the payment shall continue until the loan is redeemed.

Loans are not recoverable after six years. Is it applicable in your case?

Loans are recoverable as long as the debtor did not raise a case of prescription. The Prescription Act states 15 years in respect of any debt owed to the state and arising out of an advance or loan of money from the date the loan become payable. Any other loan of money prescribes after 3 years.

How do you determine the monthly deduction rate?

We encourage the debtor to pay an amount covering a portion of the loan capital and interest charged per month. For example, if the interest charged on an account is NAD 250, we will encourage the person to pay a minimum of NAD 500 towards loan recovery.

Does my employer need authority from me to make loan deductions?

Yes, your employer can only do deductions with the consent of the employee.

My employer stopped deductions from my pay what do I do in this case?

Loan repayment is your responsibility. Please keep track of your repayment until completion.

When am I eligible to apply for suspensions of loan repayment?

When the debtor’s annual earnings fall below a taxable income threshold.
When the debtor becomes unemployed.
When the debtor becomes incapacitated due to medical conditions.
When the debtor dies.
When debtor goes for further studies without an income.