Eligible students are encouraged to apply for the Namibia Students Financial Assistance Fund (NSFAF) loan before the due date.
The fund launched its online application on Tuesday.
NSFAF says they will not extend the online application when the application process closes on the 31st of March, urging students to maximise the given time to complete their loan application with all required documents as requested.
The application is open to all Namibians who wish to pursue studies at local, SADC, or international institutions.
"The application process is designed to be straightforward, transparent, and accessible to all eligible students, regardless of their background. I urge all students who are eligible to take advantage of this opportunity and apply for financial assistance. This initiative of multiple funding pathways is just one part of our broader agenda to improve accessibility to higher education in Namibia, enhance skills development, and ensure that the future workforce is well-equipped to meet the challenges of an ever-changing world," explained the Higher Education Deputy Minister, Nathalia |Gôagoses.
The Fund is further shifting from a Pro-Poor Students Funding System to an Inclusive Multi-Optional Students Loan System.
The system aims to fund Namibians from all walks of life who qualify for higher education and training.
"Our projections are that if we implement the new Inclusive Multi-Optional Students Loan System (IM-OSLS), the Fund will need over N$3 billion as the number of new intakes students is expected to increase to over 30,000 students. This is a significant jump when compared to the expected normal increase of 24,098 new intakes. The Fund has been on a journey of improving the application mode, making it simpler and more user-friendly. In this window of applications, the Fund continues to use the online application as the sole application mode, which is accessible through the NSFAF website," said NSFAF acting CEO, Kennedy Kandume.
The Fund awarded more than 22,000 students with study loans in 2024, said Stephen Tjiuoro, the board chairperson, adding, "We are taking a critical step in creating a more inclusive higher educational environment that not only recognises merit over means but one that also recognises the financial neediness. With financial assistance from NSFAF, 22,339 new students were able to pursue their studies at both local and international institutions during the 2024 academic year, which is an increase of 11% when compared to 20,134 new students funded during the 2023 academic year."