The National Student Financial Aid Scheme (NSFAS) allocates the funds to universities on an annual basis. Universities then disburse the allowances to all eligible students whose student funding applications have been approved.
Some universities rely on payment administrators, intellimali to process payments allocate allowances to eligible students, while others opt to allocate the funds to student bank accounts
Related: Unisa To Disburse NSFAS Allowances Differently
NSFAS has also stated that students may consult their institution for clarity as they will determine which allowances they may be eligible for with their funding. For universities, the bursary scheme covers the items listed:
- 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 institution) R7 500 per annum
- Living allowance R15, 000 per annum Book allowances R5200 per annum
- Incidental/personal care allowance R2900 per annum for students in catered residences.
In order to qualify for NSFAS funding, students must meet the following requirements:
- Be a South African citizen
- If you're a Sassa grant recipient, you will qualify for funding
- If you are an applicant whose combined household income is not more than R350 000 per annum
