The National Student Financial Aid Scheme (NSFAS) provides financial aid to eligible students in the form of bursaries, covering essential expenses like student accommodation, transportation, and other living costs. Part of funding through a NSFAS bursary is that every month, students receive NSFAS allowances.
These include allowances for accommodation, transport and any other personal needs.
How Much NSFAS Allowances Are For June 2024
University NSFAS Allowances
- Living Allowance: University students get an annual living allowance of R16,500. This breaks down into R3,045 for personal care items and R13,455 for meals.
- Learning Materials: Up to R5,460 is provided to cover the cost of learning materials.
- Meal and Personal Care: These allowances are divided into 10 monthly installments. For example, in June, you'll receive a meal allowance of R1,345. Students in catered accommodation will receive a slightly lower personal care allowance of around R300 per month.
- Transport: If you live off-campus and further than 10km away, you'll qualify for a transport allowance of R7,718 per year. This translates to R771 per month.
TVET College NSFAS Allowances
- Living Allowance: TVET students receive R10,000 annually for living expenses.
- Learning Materials: The amount for learning materials varies depending on your course.
- Meal and Personal Care: These allowances are divided into 10 monthly installments. For example, in June, you'll receive a meal allowance of R1,345. Students in catered accommodation will receive a slightly lower personal care allowance of around R300 per month.
- Transport: If you live off-campus and further than 10km away, you'll qualify for a transport allowance of R7,718 per year. This translates to R771 per month.
Students with Disabilities NSFAS Allowances
NSFAS offers increased living allowances and learning material support for students with disabilities. Be sure to check the specific requirements for eligibility. Some TVET students may only qualify for allowances during simulated training periods.
How NSFAS Allowances Are Being Paid
NSFAS recently announced that the NSFAS Direct bank accounts will no longer be used. This comes after irregular activity was found between NSFAS stakeholders and the service providers.
University NSFAS Allowances
Seeing that the NSFAS bank account is no longer being used for NSFAS allowance payments, the financial aid scheme has announced that universities will distribute NSFAS allowances directly to students until the end of July.
TVET College NSFAS Allowances
All TVET college students funded by NSFAS will receive their allowances directly deposited into their personal bank accounts. Students can choose a bank of their choice if they do not already have a bank account.
NSFAS is urging all TVET college students to submit their banking details through the myNSFAS portal to ensure a smooth transition to the new system and prevent delays in allowance payments.
It's important to note that only students with confirmed funding and submitted registration data can add their banking details on the myNSFAS portal. NSFAS will verify all submitted bank accounts.
