Who Qualifies for FASSET’s 2026 Debt Repayment Programme

South Africa’s student debt crisis continues to weigh heavily on graduates, with many unable to access their certificates or pursue career opportunities due to unpaid tuition fees. The Finance and Accounting Services Sector Education and Training Authority (FASSET) is addressing this challenge through its 2025 & 2026 Outstanding Study Debt Repayment Programme, offering up to R80,000 per applicant to settle debts owed to universities, public institutions, or NSFAS. But who exactly qualifies for this lifeline? Below, we break down the eligibility criteria to help you determine if this programme is right for you.

Who Qualifies for FASSET’s 2026 Outstanding Study Debt Repayment Programme?

Why This Programme Matters

FASSET’s initiative is a game-changer for graduates in the Finance and Accounting Services (FAS) sector. By alleviating the burden of study debt, it empowers both employed and unemployed individuals to move forward in their careers, whether that means securing a job, earning a promotion, or pursuing further studies. With applications open until midnight on 27 February 2026, now is the time to understand the requirements and act quickly, as funding is limited and awarded on a first-come, first-served basis.

Eligibility Criteria: Who Can Apply?

To ensure the programme supports those who need it most, FASSET has set clear eligibility requirements. Here’s what you need to qualify:

1. Connection to the FAS Sector

• Employed Applicants: You must currently work in the Finance and Accounting Services sector, which includes roles in accounting, auditing, financial management, taxation, or related fields like management consulting or financial IT services. You may also qualify if you’re affiliated with a professional body in the sector (e.g., SAICA, SAIPA) or work in cross-sectoral roles, such as in NGOs or community-based organisations aligned with FASSET’s mandate.
• Unemployed Applicants: If you’re not currently employed, you can still apply as long as your completed qualification is relevant to the FAS sector. This ensures the programme supports graduates seeking their first break in the industry.

2. Relevant Qualification

• You must have completed a qualification (e.g., degree, diploma, or certificate) from a public higher education institution (university, university of technology, or TVET college) that directly aligns with the FAS sector. Examples include qualifications in accounting, finance, auditing, or financial management.
• The qualification must be fully completed, as this programme covers historical debt, not ongoing studies.

3. Income Threshold

• Employed Applicants: Your annual income must be R660,000 or less. This targets the “missing middle”—graduates who earn too much for other aid but still struggle with debt.
• Unemployed Applicants: Your household income must be R1,000,000 or less per year. This ensures broader access for those without personal income but living in moderate-income households.

4. Outstanding Study Debt

• You must have an unpaid study loan or debt with NSFAS or a public higher learning institution (e.g., university or TVET college) for the completed FAS-relevant qualification.
• The debt must be verifiable with recent documentation (e.g., a statement no older than 30 days).

5. Funding Cap and Availability

• FASSET offers up to R80,000 per applicant per year to settle outstanding debts, subject to available budget.
• Applications are processed on a first-come, first-served basis, so early submission is critical to secure funding before it runs out.

Note: Priority may be given to applicants in FASSET learnerships or internships, and those already participating in other FASSET programmes may be ineligible for overlapping funding.

Documents You’ll Need

To apply, you must submit all required documents in PDF format, as outlined in Section F of FASSET’s guidelines (available on their website). Missing or incorrect documents can lead to rejection, so prepare carefully. Key documents include:

• Certified ID or Passport: A copy not older than 3-6 months.
• Proof of Employment: If employed, submit a contract, payslip, or employer letter. If unemployed, provide a household income affidavit.
• Academic Records: Transcripts and proof of your completed FAS-relevant qualification (e.g., degree certificate).
• Proof of Debt: A recent statement from NSFAS or the institution showing the outstanding balance.
• Declaration Form: Signed as part of the application form.

Check FASSET’s downloads page (https://fasset.org.za/downloads.html) for the full list and templates.

How to Apply for FASSET’s 2026 Debt Repayment Programme

The application process is fully online and straightforward:

1. Download the Form: Visit https://fasset.org.za/downloads.html and find the “2024-2025 Application Forms-Outstanding Study Debt Repayment” (likely applicable for 2025-2026; confirm with FASSET if needed).
2. Complete the Form: Fill in your personal details accurately, ensuring they match your documents.
3. Upload Documents: Attach all required PDFs as instructed.
4. Submit: Email your application to [email protected] with the subject “FASSET Outstanding Study Debt Repayment Application 2025/2026.” Alternatively, try the online form at https://forms.office.com/r/hj5NyP22ZS if accessible.
5. Save Proof: Keep a copy or screenshot of your submission for records.

For assistance, contact FASSET at [email protected] or 011 476 8570.

Key Dates to Know

• Application Open: Now open for 2025 & 2026.
• Deadline: Midnight (00:00), 27 February 2026 (or earlier if funds are depleted).
• Feedback: Successful applicants will be notified within 3 months. No response indicates an unsuccessful application.

Why Apply Early?

With funding allocated on a first-come, first-served basis, waiting until the deadline could mean missing out if the budget runs dry. Submitting early also allows time to correct any issues with your application, increasing your chances of success.

Conclusion

FASSET’s programme is more than financial aid, it’s a step toward empowering graduates to contribute fully to South Africa’s economy. By clearing debts, it helps you access withheld certificates, apply for jobs, or register with professional bodies, unlocking your potential in the FAS sector.

If you meet the criteria, don’t delay. Gather your documents, verify your eligibility, and apply as soon as possible. For the latest updates or to confirm the application form, visit FASSET’s website or contact their team directly. This could be your chance to break free from student debt and build the future you’ve worked so hard for.