Welcome to the Khumalo Masondo Attorneys Inc collections link for the NSFAS (National Student Financial Aid Scheme). From this page you are able to pay your bill or contact our collections department regarding your outstanding bill.
How To Pay Your Account
The NSFAS makes use of various payment methods.
- Payments must be made directly into the NSFAS account using your ID number as the reference.
- A debit order can be arranged with NSFAS to repay the debt.
To learn more about the payment option, click here.
Frequently Asked Questions
Does NSFAS have to be paid back?
Yes, the NSFAS loan will need to be repaid. The student borrows the money to cover their study costs. The loan only needs to be repaid after the student completes the qualification and/or leaves the University or College, found employment / in business and earns R30,000.00 or more annually.
When do I start paying my NSFAS loan?
Repayment of your NSFAS study loan is only due once you have secured employment. If you received a study loan in 2017 and prior, an interest holiday of 12 months post exit date is applicable to student loan accounts.
Is there a time frame to pay back the NSFAS loan?
No time limit is given for repayment as this is determined by the salary of the debtor, and his or her ability to repay. Those who are unemployed are not expected to repay.
How is the NSFAS interest calculated?
The Interest Rate is calculated at 2.8% per annum effective from 01 April 2021. The NSFAS interest rate is pegged at 80% of the repo rate and fluctuates in line with changes to the repo rate.
Queries And Complaints
Our collections team is ready to assist you with your account queries and to make payment arrangements to settle the arrears. Please complete the below contact form or call +27 (0)10 448 1021.