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The National Student Financial Aid Scheme (Nsfas) board has decided to extend the deadline for applications for student financial aid until 15 February.
According to a joint statement by the scheme and the SA Union of Students (SAUS) on Thursday, the decision materialised during a "crucial meeting" between the Nsfas board, led by acting board chairperson Professor Laurens Van Staden, and the SAUS executive, headed by President Yandisa Ndzoyiya.
The focus of the meeting was Nsfas' readiness for the upcoming academic year. Both parties mutually agreed to prolong the 2024 bursary application period.
It was also determined that the Nsfas loan scheme would be open for applications from Friday to 15 February.
READ: Sasco calls on varsities, Nsfas to resolve registration fees issue ahead of deadline
The introduction of the new comprehensive student funding model is a noteworthy development intended to support students who were previously excluded by Nsfas's bursary and funding policy.
This category encompasses students from families with total annual incomes ranging from more than R350 000 to not exceeding R600 000.
According to the statement, it was clarified that students who have already applied for the Nsfas bursary scheme were not required to submit a new application for the student loan scheme.
Those who did not meet the bursary scheme eligibility criteria but met the loan scheme criteria would automatically be considered for a loan.
Prospective loan scheme applicants can conveniently apply through an online application form. The process involves creating a profile, submitting the application and awaiting consideration.
Guidance in a time of limbo
Data from The South African Institute for Advancement (SAIA) show that South African universities can only accommodate 18% of matriculated students.
Last week, Wits announced that it received more than 140 000 applications while it can only accommodate just over 6 000.
SAIA data further shows that, more alarmingly, out of the 18% figure, 47% end up dropping out during their studies, highlighting the importance of prospective students needing guidance at this point.
Atelisha Harilal, head of marketing and student recruitment at STADIO, emphasised the pivotal role parents and advisers play in supporting students throughout their academic journey.
Harilal cautioned against allowing peer influence and misconceptions to sway application decisions, stressing the importance of making informed choices.
For students who have not applied or haven't been accepted to their first-choice institutions, Harilal urged them not to lose hope.
Public universities, she noted, are not the sole option for tertiary studies, and with proper parental support, students can find alternative paths.
Parents were encouraged to actively participate in their children's academic journeys, explore institutions' websites, consult with student advisors, and foster an environment that allows students to make decisions independently.
READ: Attracted abroad by better pay and working conditions - Why SA can't keep its doctors
In promoting a supportive community, Harilal advocated for the 'it takes a village' approach, encouraging knowledge sharing within communities.
Seeking advice from institutions offering free career guidance, attending open days, and interacting with academic teams were highlighted as essential steps in making well-informed decisions about tertiary education choices.
