The National Student Financial Aid Scheme (NSFAS) has helped more than five million students obtain tertiary education qualifications since it was established. They did this by providing comprehensive funding to students that aims to cover all the costs associated with getting a degree.
NSFAS bursaries include tuition and registration fees and several NSFAS allowances for students. These allowances aim to cover the costs associated with tertiary education including living expenses, learning material costs, transport costs and the cost of meals.
These allowances are only provided to university or Technical and Vocational Education and Training (TVET) College students enrolled in approved courses. NSFAS provides allowances for accommodation to students who need it.
Here’s How NSFAS Allowances Work For The Beginning Of The Year
NSFAS usually distributes billions of rands to institutions at the beginning of each academic year in upfront payments. This is provided to universities to cover one month of student accommodation and half the book allowance.
For TVET colleges, NSFAS pays millions to assist with registration and money for three months' allowances based on January-March registration. These payments aim to facilitate the registration of all NSFAS-approved students.
NSFAS revealed when upfront payments are made by the bursary scheme, the payment must in the first instance, direct funding to allowances and then secondly direct funding towards paying the first instalment of the tuition fee.
Universities must also allow students who are recipients of NSFAS bursaries to register without paying a registration fee if they have been confirmed as provisionally funded, as this will be paid as part of their full tuition fee.
University students receive ten allowance payments annually in monthly installments. These payments are made from February to November at the end of each month.
For February and March, payments will be made differently. Instead of monthly, students will receive bi-weekly payments.
Students receive accommodation allowances, meal allowances, and stationery allowances from NSFAS. Adjustments are made to the allowances for students living at home or in catered accommodation.
