How much is the NSFAS allowance for 2024 per month and what does it cover?
The National Student Financial Aid Scheme (NSFAS) is a scheme founded and run by the government of South Africa under the Department of Higher Education and Training (DHET). NSFAS allowance is given to deserving youthful citizens to pursue higher learning in TVET colleges and public universities.
Source: UGC
NSFAS allowance has assisted numerous people from low-income households to pursue higher education. NSFAS was established in 1999, and the financial support offered usually caters to daily living expenses, accommodation, learning materials needed, and transport.
NSFAS allowance in 202
NSFAS allowance is not issued to every student pursuing higher education. The scheme offers assistance to students from needy backgrounds. All beneficiaries must apply to get support.
How does NSFAS work?
NSFAS works by sending financial assistance to bright students to pursue higher studies after completing high school. These students must come from needy backgrounds, i.e., households earning a combined income of R350,000 or less per year.
Eligible students must apply for funding before getting it. The support is issued to students pursuing courses in TVET colleges and public universities. Only a few post-graduate degrees are supported in this government-sponsored scheme.
Orphaned and vulnerable children (OVC) from households receiving assistance from the South African Social Security Agency (SASSA) are eligible for NSFAS financing for higher studies.
Criteria for NSFAS monthly allowance
There are set NSFAS requirements that guide who is eligible for financial aid. The following categories of people qualify for funding.
- All South African citizens
- All SASSA grant recipients
- Students whose combined annual household income is R350,000 or less
- Abled-differently persons hailing from households with a combined annual income of not more than R600,000
- Students who started higher studies before 2018 and whose combined annual household income is R122,000 or less
Source: UGC
What does NSFAS cover?
The essentials covered by NSFAS are listed below. The amount issued caters to basic life and education needs when a student is in school.
University coverage
The latest DHET guidelines indicate that financial support should cover the following necessities.
- Accommodation as per the costs charged by the university. If a student opts for private accommodation, the amount must not surpass the cost of the university residence.
- Transport for up to 40 kilometres from the institution, i.e. R7,500 per year
- Living allowance of R15, 000 per annually
- Book allowances of up to R5,200 annually
- Personal care allowance of up to R2,900 yearly for students in catered residences
TVET colleges coverage
The financial aid offered to students in TVET institutions covers the following necessities.
- Accommodation in a town or other urban area is R24,000 per year or R18,900 per annum for students residing in peri-urban areas. Those in rural areas get R15,750 per year.
- Transport fee of up to 40 kilometres from the institution, i.e., R7,350 per year
- Transport fee of up to R7,000 per year
- Personal care allowance of up to R2,900 per year
NB: Abled-differently students are eligible for additional financial support for acquiring special equipment, human support, and medical assessments.
The amounts indicated above follow the guidelines of the Department of Higher Education and Training (DHET). This means that all institutions follow similar guidelines, i.e., the UNISA NSFAS allowance is the same as all other universities.
How many months does NSFAS give allowances?
NSFAS allowances are paid over a period of 10 months. The NSFAS payment schedule is the first week of each month.
NSFAS application
If you wish to benefit from the NSFAS funding, you must meet the eligibility criteria and apply. New applicants should apply through the official NSFAS site.
Continuous students can apply via the site or their institution. Note that you will be required to pay your registration fee while your application is being evaluated.
Source: UGC
Application documents
The following documents are required when applying for funding.
- Copy of your South African ID
- Proof of annual household income
- Parents' South African IDs (for dependent applicants)
- A copy of your academic record
NSFAS contact number
If you need to contact NSFAS for more information, use the contact details below.
- Telephone number: 08000 67327
- Email address: info@nsfas.org.za/ collections@nsfas.org.za
- Instagram: @mynsfas
- Facebook: @National Student Financial Aid Scheme (NSFAS)
How much does NSFAS pay for accommodation?
NSFAS pays accommodation costs as per the costs charged by your university. If a university student opts for private accommodation, the amount must not exceed the cost of the university residence.
On the other hand, it pays R24,000 per year for TVET students living in a town or other urban area, R18,900 per annum for those in peri-urban areas, or R15,750 per year for those in rural areas.
Which are the NSFAS allowance payment dates?
NSFAS will disburse funds within the first week of each month. Allowances are paid for ten months a year.
Which institutions does NSFAS provide funding for?
NSFAS only provides financial assistance to eligible students who have applied and have been accepted at public universities and TVET colleges for approved funded programmes.
Should I apply for NSFAS funding every year?
No, NSFAS funds you for the duration of your studies. You do not need to apply every semester or year.
NSFAS allowance has allowed thousands of people to access higher education in South Africa. Persons who meet the qualification criteria should apply for funding to make their education dreams come true.
READ ALSO: How to unlock an NSFAS account: Here is everything you need to know
Briefly.co.za recently published how to unlock an NSFAS account. It is not unusual to get locked out of your NSFAS account for different reasons.
One of the biggest reasons for account locking is entering an incorrect wallet password more than three times. This activates a lock security feature that protects beneficiaries from fraudulent or unauthorised access to their accounts.
Source: Briefly News
