The National Student Financial Aid Scheme (NSFAS), released the NSFAS 2024 Eligibility Criteria and Conditions for Financial Aid as a way to ensure that students have enough funds for academic purposes.
NSFAS is a South African student financial aid scheme funded by the Department of Higher Education and Training (DHET). The organisation provides NSFAS bursaries to students who are unable to afford the cost of their tertiary education themselves.
Requirements To Continue Being Funded By NSFAS
In 2024, both continuing and First Time Entering Students (FTEN) at universities are required to achieve a credit pass rate of 50%. However, to succeed academically for the 2025 funding year, they must achieve a course credit pass rate of 60% by the end of the 2024 academic year. Failure to meet this criterion means they will not receive NSFAS funding in 2025.
For TVET college students, eligibility for an NSFAS bursary hinges on passing at least five subjects in the previous NC(V) level and progressing to the next NC(V) level. Similarly, students enrolled in Report 191 programme/NATED programmes must pass a minimum of three subjects in the previous N-Level to qualify for a bursary when advancing to the next Report 191 level.
The academic progression criteria for continuing students pursuing occupational programmes will be set by TVET colleges, with results communicated to NSFAS.
In 2024, NSFAS-funded students who deregister or drop out during an academic term and seek to resume their studies in subsequent terms must re-apply for funding. Furthermore, students who exceed the NSFAS N+ Rule for universities or TVET colleges will not receive funding.
The university N+ Rule in 2024 is determined by the duration of a student's registration in the higher education sector, while the TVET college N+ Rule is based on NSFAS-funded academic terms at TVET Colleges. The additional NSFAS-funded academic term may involve repeating any level from the entry to exit academic term.
It's worth noting that the N+ Rule does not apply to occupational programmes due to their alignment with employment contracts, which do not accommodate the N+1 period of study.
NSFAS 2024 Allowances
For university students residing in university-managed self-catering and accredited off-campus accommodation, the annual cap is set at R50,000 in metro areas and R41,000 elsewhere. University-managed catered accommodation is capped at R66,500 in metros and R57,500 elsewhere, per beneficiary.
TVET college students in managed self-catered and accredited off-campus accommodation have a cap of R50,000 in metros and R41,000 elsewhere, while college-owned catered residences are capped at R60,000 in metros and R51,000 elsewhere, per beneficiary.
In 2024, the living allowance is R10,000 for TVET college students and R16,500 for university students annually, disbursed monthly over ten months.
Students with disabilities qualify for living allowances including meals at R20,000 per academic year. They qualify for a learning materials allowance of R6,000 per academic year for university students only.
NSFAS also provides an assistive devices allowance limited to R50,000 as a once-off allowance. These students also qualify for repairs and maintenance of assistive devices to the value of R2,000 per academic year.
To find out more NSFAS news, applications and the latest changes, head to our NSFAS page.
