Question

When does NSFAS start to charge the interest on study loans

Answer 1

Student loan interest start dates

In most cases, your student loan interest starts accruing the day you take out your loan. The only exception is Direct subsidized loans. On these need-based loans, the federal government pays your interest while you're in school and during the six-month grace period after you leave.

Answer 2

Answer:

The interest rate attached to the NSFAS loan is charged at 80% of the repo rate. This is the repurchase rate that the Reserve Bank charges commercial banks. This fee will change each year as the repo rate changes. The interest rate would be around 5% – 6% per year.