How Much Allowance Do NSFAS Students Get?
How Much Allowance Do NSFAS Students Get? How much does NSFAS give per month?
For many South African students, the National Student Financial Aid Scheme (NSFAS) serves as a lifeline, making higher education accessible by providing financial assistance. One common query among NSFAS beneficiaries is, “How much allowance do NSFAS students get?” For NSFAS-funded students living at the colleges without catered residences, a living allowance will be provided to cover food and other expenses. There will be an R15,750 allowance in 2024, which will be divided into R3,045 for personal care and R12,705 for meals.
Who can appeal?
A student whose application for financial aid is rejected or the financial aid for a continuing student is withdrawn, may lodge an appeal with the NSFAS.
- The appeal decisions are subject to budget availability.
- Appeals will only be considered for students who have applied to NSFAS for Financial Aid.
Who cannot appeal?
Students are not permitted to appeal if they:
- Are registered for a qualification that NSFAS does not fund;
- They have reached N+2 (or N+3 in the case of students with disabilities).
- The student is a gap year student whom NSFAS previously denied financial aid to because s/he did not meet the academic eligibility criteria.
- If the institution has not submitted its registration record to NSFAS or has submitted an incorrect registration record such enquiries should be directed to the institution.
NSFAS 2023 Allowances for TVET students: How much does NSFAS give per month?
- Students at TVET Colleges with their own catered residence will receive an accommodation allowance valued at R54 045 per annum.
- Students at TVET College with managed own and leased self-catered accommodation will receive a living allowance of R6 000, personal care allowance of R3 045, and a living allowance of R45 000 (with the living allowance paid directly to the TVET College).
- Students living in private accommodation will receive a R6 000 living allowance, R3 045 personal care allowance, and an accommodation allowance valued at R45 000 per annum.
- Students who live within 10km of their college will receive a R6 000 living allowance, R3 045 personal care allowance, and R7 718 travel allowance.
How are NSFAS student allowances paid?
The student’s allowances are paid directly into their NSFAS-approved bank account. To access this, students must ensure that the NSFAS direct payment onboarding process is completed. NSFAS will also ensure that a student-based transaction fee is negotiated on behalf of the students and that this transaction fee will be reviewed on a regular basis.
NSFAS provides vital financial assistance to South African students, encompassing various allowances to ease the financial burden of higher education. The exact amount of allowances depends on factors such as family income, institution type, accommodation, and location. Understanding NSFAS allowances and managing them wisely can help students make the most of their educational opportunities while maintaining financial stability.
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