BANKSETA Historical Student Debt Settlement Programme 2026/27: Up to R120,000 per Student, Closes 10 December

The Student Debt Settlement Programme 2026/27 offers financial relief to qualifying students with outstanding historical student debt. The Banking Sector Education and Training Authority (BANKSETA) invites eligible public institutions to apply for funding.

Through this initiative, BANKSETA will provide funding of up to R120,000 per qualifying student. The programme aims to remove financial barriers that prevent students from accessing their academic records and qualifications.

Eligible institutions must submit their applications by 10 December 2026. Individual students cannot apply directly for this funding.

What Is the BANKSETA Historical Student Debt Settlement Programme 2026/27?

The BANKSETA Historical Student Debt Settlement Programme addresses outstanding student debt at eligible public higher education and training institutions.

Many students complete their studies but cannot access their academic records. Outstanding fees can also prevent graduates from obtaining their qualifications.

Consequently, these financial barriers can affect their employment opportunities and further studies.

BANKSETA introduced this funding opportunity to help qualifying students overcome these challenges. The initiative aims to restore access to education and improve opportunities for South Africa’s future workforce.

The programme also supports institutions that want to assist students affected by historical debt.

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Who Can Apply for the BANKSETA Student Debt Settlement Programme?

BANKSETA invites applications from eligible public higher education and training institutions.

The following institutions can apply:

• Public Universities: Eligible public universities can submit applications for qualifying students.
• Public Universities of Technology (UoTs): Public universities of technology can also access this funding opportunity.
• Public TVET Colleges: Public Technical and Vocational Education and Training colleges can apply on behalf of qualifying students.

Importantly, the funding application process involves the eligible institution. Students must engage their respective institutions regarding the programme.

Private higher education institutions are not listed among the eligible applicants in the announcement.

How Much Funding Does BANKSETA Offer?

BANKSETA will provide funding of up to R120,000 per qualifying student.

This funding will support the settlement of historical student debt. However, the funding remains subject to the applicable criteria and approval.

The R120,000 represents the maximum funding available per qualifying student. It does not guarantee that every applicant will receive this amount.

BANKSETA will consider applications against its applicable funding criteria.

How to Apply for the BANKSETA Historical Student Debt Settlement Programme

Individual students cannot submit applications directly to BANKSETA. Eligible institutions must submit applications on behalf of their qualifying students.

Therefore, students who have outstanding historical debt should contact their institutions.

Follow these steps:

Step 1: Contact Your Institution

Contact your university or TVET college’s financial aid office, student finance department or relevant administrative office.

Ask whether the institution intends to participate in the BANKSETA Historical Student Debt Settlement Programme.

Step 2: Confirm Your Eligibility

Ask your institution about its qualifying criteria and application process.

BANKSETA has indicated that funding depends on applicable criteria and approval. Your institution should clarify the requirements before proceeding.

Step 3: Follow Your Institution’s Instructions

If your institution participates, follow its instructions regarding the required information and supporting documents.

The institution will manage the application process and submit the necessary information to BANKSETA.

Step 4: Monitor Communication From Your Institution

Keep checking your institution’s official communication channels for updates.

The institution should communicate relevant application requirements and any further information about the process.

Important Application Information

Applicants and institutions should remember the following details:

• The application closing date is 10 December 2026.
• Only eligible public institutions can submit applications.
• Individual student applications will not be accepted.
• Funding can reach R120,000 per qualifying student.
• All funding remains subject to applicable criteria and approval.

Eligible institutions should submit their applications before the closing date.

Students should avoid submitting applications directly to BANKSETA. Instead, they should contact their institutions for guidance.

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Frequently Asked Questions About the BANKSETA Student Debt Settlement Programme