NSFAF Payingback 2018/2019
“Once you have completed your studies, you are required to fulfil your social responsibility and contribute to the Fund by repaying your loans. You can assist learners to apply to tertiary institutions and for financial assistance from NSFAF. You can follow your payments even in the portal or by sending e-mails and SMS messages. “
- A period of six months has lapsed since the student has completed his or her studies
- He or she has found employment
- He or she is earning a threshold salary
- He or she has not completed his/her studies but has committed breach of contract, or he/she has negotiated or accepted different terms under the loan/grant agreement or he/she has received another loan/bursary outside the agreement.
- Namibia Student Financial Assistance Fund (NSFAF),
- Cheque Account No.: 8 000 359 824
- Bank Windhoek
- Branch and Code: Kudu (48-21-72)
In case of direct bank deposit proof (deposit slip) thereof should be submitted to the Fund without delay. The Subdivision Loan Recovery & Breach of Contract under the NSFAF should determine the instalment to be paid by the beneficiary and communicate the information to the beneficiary and institution authorised to receive such funds. The NSFAF act provides that legal action may be instituted if employment information provided by the debtor is deliberately misleading or is intended in any way to avoid compliance with obligations under his or her loan/grant contract.
- The debtor becomes unemployed
- The debtor’s annual earnings fall below the relevant
- The debtor becomes ill/mentally ill and is declared unfit for work for a period longer than three months by a registered medical practitioner.
- The debtor dies, in which case all liability for refunding of moneys would lapse provided a breach of contract did not occur before the event of death.
When a loan is suspended, interest will not accrue to the loan,