The Department of Higher Education and Training (DHET) funds TVET college students through the National Student Financial Aid Scheme (NSFAS).
According to DHET Minister Dr. Blade Nzimande, funding in institutions of higher learning through government funding went up by 107% from R20 billion in 2018 to R42 billion in 2021.
Students have to meet the following criteria to obtain funding from NSFAS:
- You are a South African citizen;
- Your combined annual household income does not exceed R350 000 per annum;
- You are a SASSA grant recipient;
- You are registering for the first time for an undergraduate qualification at a public university or you are registered at a TVET college for one of the National Certificate Vocational or report 191 programme;
- You are applying to study at a public university or TVET college for a qualification;
- You are an already registered university student with an annual household income of less than R122 000 per year;
- You have passed Grade 9 & 10 to receive NSFAS funding to study at a TVET college;
- You have passed Grade 12 to receive NSFAS funding to study at a university.
Financial institutions also have student loans available for both university and TVET college students.
With student loans, there ought to be surety either from the student or the person who will be paying back the loan.
To read more on student loans, click here.
Another form of funding that students should consider is bursaries within the institution.
Commonly with bursaries, one should have great grades and maintain the standard so that the bursary does not pull the plug.
Students ought to enquire more about internal bursaries from the Bursary Department of the particular TVET college.
