How to Pay Back

Loan means jointly the approved Tuition Fees and Non-Tuition Fees, additional costs, bank charges, administration charges and disbursements as advanced to or paid on behalf of the Debtor by the Fund, which amount the Debtor is required to pay back to the Fund.

• Within 6 (six) months from date of expiration of the final academic year wherein he/she completed his/her studies and obtained his/ her Qualification;
• Debtor has become employed or receives an income;
• The Debtor abandons or cancels the studies for which the loan was granted, or the Debtor cancels the Loan
• The Debtor changes from the approved Institution to another or changes his/her Qualification, without prior written approval of the Fund;
• The Debtor commits any breach of the Contract;
• If the Fund is not satisfied with the Debtor’s results and cancels or withdraws the loan in terms of clause 5 (Cancellation and Withdrawal of Loan) in which case the total amount expended by the Fund will become repayable;
• In the event that the Debtor has breached this Contract prior to the death of the Debtor, repayment may be demanded from the Debtors’ estate.

• Direct Bank Deposits (Cash/Cheque Deposit)
• Salary Deductions
• Debit Orders
• Electronic Funds Transfer (EFT)

BANK DETAILS:
Account Name: NSFAF, Bank Name: Bank Windhoek
Account number: 800 484 589 4
Branch Code: 482 172,
Branch Name: Kudu Branch

A proof of payment should be submitted to the NSFAF Recovery Division or e-mail at: recovery@nsfaf.na and you will be issued with your updated debtor’s account statement.

If the beneficiary resides abroad, he/she can pay by Electronic Funds Transfer (EFT) directly into the NSFAF Bank Account and email proof of payments to the respective consultant dealing with his or her account or at: recovery@nsfaf.na.

Yes, if it was a loan. For the Income Contingent Loan, the repayments start when the individual is employed. By paying back your NSFAF study loan, you are assisting someone else who needs it just as much as you did.

• The time required to start repaying is within six months of completing studies. If a student cannot find employment, it is possible to postpone repayment; in such a case, the request for postponement of repayment must be made to the Board of NSFAF in writing.
• Immediately once the beneficiary has secured employment and earning a taxable amount
• When the student has not completed their studies and thus committed breach of contract

The student must consult with NSFAF and provide the Fund with the following information:
• Complete contact details, indicating postal and residential addresses including actual and permanent residence;
• Details of his/her employer and employment status;
• Student’s consent to the Loan/Grant agreement for loan deductions after the completion or cancellation of studies;
• Any change in contact details, employment status and details of his/ her employer.
• Also Refer to NSFAF Student Loans Repayment Guide

Statements are send via emails once each month.

Direct Bank Deposits
Salary Deductions
Electronic Funds Transfer
Debit Orders

BANK DETAILS:
Account Name: NSFAF
Account number: 800 484 589 4
Branch Code: 482 172
Bank Name: Bank Windhoek

If the beneficiary resides abroad, he/she can pay by Electronic Funds Transfer into NSFAF Recovery Account and email proof of payments to the respective consultant dealing with his or her account.

The loan is charged a compounded interest. Therefore when one defaults they suffer a compound interest charged on the account.

The loan is charged a compounded interest. Therefore when one defaults they suffer a compound interest charged on the account.

There are no ledger fees charged on all NSFAF student loans.