The National Student Financial Aid Scheme (NSFAS) is a bursary which provides millions of South African students with the opportunity to access tertiary education. The bursary allows underprivileged students to attend university and TVET College.
According to NSFAS, their financial year begins on 1 April 2023 which is when students will receive their allowances. This is also when NSFAS receives the first portion of its budgetary allocation for the first quarter of the financial year.
Due to the financial year beginning today, many students were unable to receive their allowances for the last few months. Hopefully, once students receive their allowances they will be able to focus on their studies without worrying about transport and living costs.
The NSFAS bursary provides students with allowances to cover the cost of learning materials, transport, living expenses, and accommodation. University and TVET College students receive different amounts for each allowance.
Here are the allowance amounts provided to the following students:
University
- Accommodation: As per the actual costs charged by the university (costs for private accommodation must not exceed costs for university residence)
- Transport (up to 40 km from the institution): R7 500 per year.
- Living expenses allowance: R15 000 per year.
- Learning materials/Book allowances: R5 200 per year.
- Incidental/personal care allowance: R2 900 per year for students in catered residences.
TVET
- Accommodation in an urban area: R24 000 per year.
- Accommodation in a peri-urban area: R18 900 per year.
- Accommodation in a rural area: R15 750 per year.
- Transport (up to 40 km from the institution): R7 350 per year.
- Living expenses allowance: R7 000 per year.
- Incidental/personal care allowance: R2 900 per year.
Recently, the Minister of Higher Education, Blade Nzimande, agreed to increase the allowances provided to NSFAS students. The decision was made after consultation with various stakeholders within the Higher Education Sector.
