Student Loans South Africa 2026 — NSFAS, Private Loans & Bursaries
Last updated: June 2026 · Affiliate disclosure
Financing tertiary education in South Africa means navigating government schemes, private loans, and bursaries. This guide covers every option available to students in 2026.
Student Finance Options in South Africa — Overview
| Option | Amount | Repayment | Requirements | Best For |
|---|---|---|---|---|
| NSFAS | Covers tuition + living costs | After graduation (income-contingent) | Household income under R350,000/year, SA citizen, public institution | Undergraduate students at public universities/TVETs |
| Institutional bursary | Varies | None (bursary) | Academic merit and/or financial need | High-achieving students |
| Corporate bursary | Varies | Work-back agreement | Specific field of study, academic requirements | Students in scarce skills fields |
| Personal loan (with income) | Up to R250,000 | Fixed monthly instalments | Regular income, SA ID, credit check | Students with part-time work |
| Surety loan | Up to R250,000 | Fixed monthly (parent pays) | Parent/guardian signs as surety | Students without income, parents with good credit |
NSFAS — How It Works in 2026
NSFAS (National Student Financial Aid Scheme) is the primary government-funded mechanism for student finance at public institutions in South Africa.
Who qualifies?
- SA citizen or permanent resident
- Enrolled at a public university or TVET college
- Household income under R350,000/year
- Not receiving other government funding
- Maintaining satisfactory academic progress
What it covers
- Tuition fees (paid directly to institution)
- Accommodation allowance
- Food allowance
- Learning material allowance
- Transport allowance (where applicable)
Important limitations
- Only for public universities and TVET colleges
- Does not cover private college fees
- Application deadlines are strict
- Academic performance requirements apply
- Amounts are determined by NSFAS — not guaranteed
Apply at nsfas.org.za during the annual application window (typically August–November for the following year).
Private Personal Loans for Students
If you have part-time income, a personal loan may be accessible. Without income, you need a parent or guardian to apply with you as surety.
With part-time income
If you earn R2,000+ per month consistently from part-time work:
Apply via uApply → Wonga →Bursaries — Free Money That Doesn't Need to Be Repaid
Bursaries are grants that cover education costs without requiring repayment. Always apply for bursaries before loans.
Funza Lushaka
Government bursary for teaching students. Covers full tuition and allowances. Work-back period required at a public school after graduation.
NSFAS Bursary Component
A portion of NSFAS funding converts to a non-repayable bursary if you meet academic requirements. The split between bursary and loan depends on academic progress.
Corporate Bursaries
Many large SA companies (banks, mining, tech) offer bursaries in their field. Usually require a work-back agreement. Apply directly to companies in your sector.
Institutional Bursaries
Most universities offer merit-based bursaries. Check your institution's financial aid office. Often undersubscribed — worth applying even if you think you won't qualify.
Key Advice Before Borrowing for Education
- Apply for NSFAS first — even if you're unsure you qualify, apply. The threshold is R350,000 household income, which covers many middle-income families.
- Research bursaries in your field — engineering, accounting, teaching, healthcare, and IT all have active bursary programmes in SA.
- Calculate the total cost of a loan — use our loan calculator. A R50,000 loan at 22.75% over 5 years costs ~R77,000 total.
- Don't borrow more than you need — every rand you borrow compounds with interest.
- Have a repayment plan — know what your expected starting salary will be and whether the monthly repayment is affordable.
Frequently Asked Questions
Can students get loans in South Africa?
Yes, with conditions. Without income, you need a parent as surety or must qualify for NSFAS. With part-time income, standard NCA personal loans are accessible through uApply or Wonga.
What is NSFAS and do I qualify?
NSFAS is the government student funding scheme. You qualify if you're a SA citizen enrolled at a public university or TVET college from a household with combined income under R350,000/year. Apply at nsfas.org.za.
Are there bursaries that don't need to be repaid?
Yes — many. Funza Lushaka (teaching), corporate bursaries in engineering/IT/finance/healthcare, institutional merit bursaries, and the NSFAS bursary component for qualifying students. Always exhaust bursary options before borrowing.
Can I get a student loan for a private college?
NSFAS does not cover private college fees. You would need a personal loan through uApply or a bank. Confirm the affordability using our calculator before committing to a private institution.
What is a surety loan?
A loan where a parent or guardian signs as co-applicant, guaranteeing repayment if you default. The surety's income and credit are assessed. If you miss payments, it damages both your credit records.
Disclaimer: PrimeCompare is a comparison and information service. Not financial advice. All lenders listed are NCR-registered and NCA-compliant.