How To Pay back Your NSFAF Loan
Honor your obligation today by paying back your loan and enable NSFAF to continue funding a brighter and educated Namibia.
What is the process of paying back a loan?
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
What are the methods of NSFAF repayment?
- 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
How do I pay my loan from abroad?
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: [email protected]
Do students have to pay the money back after completing their studies?
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.
When am I expected to repay my student loan?
- 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
Can I repay my loan in one instalment?
Yes, one can repay the loan in one installment. A Loan Redeemed Certificate will be issued to the debtor.
What happens after clearing my loan?
You can contact our recovery division on 061 420 647 or email [email protected] for further details.
