National Student Financial Aid Scheme Act, 1999 (Act No. 56 of 1999)Chapter 3 : Administration of Loans and Bursaries20. Designated higher education institution |
| 1) | The board may enter into an agreement with a higher education institution which agrees to become a designated higher education institution for purposes of administering loans and bursaries to students of that institution on behalf of the NSFAS. |
| 2) | The agreement referred to in subsection (1) must authorise the institution on behalf of the NSFAS– |
| a) | to administer loans and bursaries granted to students of the institution; |
| c) | to consider and assess the applications in the light of the criteria for the granting of loans and bursaries determined by the NSFAS; |
| d) | to grant loans and bursaries if the criteria are met, after ascertaining that funds are available; and |
| e) | to enter into a written agreement with a borrower or bursar in accordance with the provisions of this Act and on the terms and conditions determined by the NSFAS. |
| 3) | A designated higher education institution must– |
| a) | at such intervals as are agreed on by the institution and the board, report to the board on the progress made by a borrower or bursar with regard to the course of study followed by him or her; and |
| b) | immediately notify the board if a borrower or bursar discontinues his or her studies. |