Financial Means Test

How will the NRF establish financial need?

The NRF will identify students that have previously been assessed as financially needy by National Students Financial Aid Scheme (NSFAS) or the Ikusasa Students Financial Aid Programme (ISFAP). In addition, students who have not undergone a financial need assessment will be subjected to a Household Financial Means Assessment by the NRF in partnership with ISFAP. Only students that complete the consent form and provide the requested information will be subjected to a Household Financial Means Assessment by the NRF. The consent form must be completed correctly (all household contributors listed on the online application form should have their ID numbers and signatures reflecting on the consent form), and the form must be signed and stamped by the commissioner of oaths. Incomplete forms will not be accepted.

Who is regarded as a financially needy student?

A student with a combined gross family income of R350 000.00 (three hundred and fifty thousand rand) per annum or less will be regarded as financially needy by the NRF. The combined gross family income of the student’s parents/spouses and/or legal guardians will be used to undertake the Household Financial Means Assessment. This will apply to all scholarship applicants intending to apply for full-time studies irrespective of their age or level of postgraduate study.

What does combined gross family income mean?

Combined gross family income is defined as a measure of the combined income of parents/spouses and/or legal guardians who earn income both from the formal and informal sector (e.g., salaries and wages, grants, pension and other sources of income including business and/or rental income). This applies to all students applying to the NRF for postgraduate funding.

If I was previously funded by NSFAS or ISFAP, will I still need to undergo a financial means test to be eligible for NRF postgraduate funding?

No, applicants who were previously identified as falling into the category with a combined gross family income of R350 000.00 (three hundred and fifty thousand rand) per annum or less, by either NSFAS or ISFAP, will not need to undergo a financial means test. Such applicants must attach proof that they are financially needy on the NRF Online Application template. The attachment must be an official university stamped financial statement or acceptance of an award from NSFAS or ISFAP.

If I was previously funded by the University Financial Aid, will I be required to undergo a financial means test?

Yes, you will be required to undergo a financial means test for postgraduate funding in order to establish your financial need status i.e. whether you fall into the category with a combined gross family income of R350 000.00 (three hundred and fifty thousand rand) per annum or less.

What if my combined gross family income is just above R350 000, for example R355 000, will the NRF exclude me from obtaining funding?

No, you would be eligible for Partial Cost of Study (PCS) funding on condition that you meet the university requirements and NRF eligibility criteria.

Do students who require a financial means test that are older than 18 years of age, who are no longer minors or living with their parents or guardian, still need to complete a consent form?

The NRF offers funding support to students studying/intending to study on a full-time basis and who will not be in contractual or permanent employment whether salaried or unpaid while pursuing postgraduate studies. The financial means test will be based on the combined gross family income which is defined as a measure of the combined income of parents/spouses and/or legal guardians who earn income both from the formal and informal sector (e.g., salaries and wages, grants, pension and other sources of income including business and/or rental income). This will apply to all applicants’ for NRF funding irrespective of the age of the student.

When can a student apply for a Financial Means Test to be conducted?

There are four instances when a student can undergo a financial means test:

A student can undergo a financial means test at the time of application for funding for a specific postgraduate qualification.
In instances where a student upgrades from a masters to a doctoral degree and did not get an opportunity to undergo a financial means test.
In instances where a student was awarded an extension support for masters and they want it converted into a doctoral scholarship and did not get an opportunity to undergo a financial means test.
If there are compelling reasons e.g. individual contributing to household income becomes unemployed or deceased.

How many times in a year is the Financial Means Test conducted?

A financial means test is conducted annually by 01 September. Continuing NRF-funded students requesting financial means test should liaise with the institutions and complete the relevant documents to be submitted by the institutions to the NRF by 15 August. The outcomes of the financial means test will be made available by 15 December.

Can I complete the ISFAP consent form with my details only?

No, the financial means test is based on the combined gross family income, therefore all household contributors and the applicants’ ID numbers and signatures have to reflect on the consent form. If only the applicants’ details appear, the form will be deemed incomplete and a financial means test will not be conducted.