How Much Does NSFAS Pay? How Much Money NSFAS Allocated for Students in 2024

NSFAS is an outstanding scheme founded and run by DHET(Department of Higher Education and Training) in South Africa. NSFAS came into being in 1999. The sole aim of this scheme is to help numerous students who belong to low-income and poor backgrounds to support them in their studies. 

NSFAS covers daily living expenses, learning materials, transport, and accommodation. The students of TVET colleges and public universities can benefit from this scheme who are deserving and belong to the poor class. This question is frequently asked: “How much does NSFAS pay?” We’ll find out the answer to this question and answer any other queries you may have.

NSFAS Allowances 2024

NSFAS’s funding scale is increasing day by day. As of 01 February 2024, about 1.7 million applications had been received for the educational year 2024. Interestingly, NSFAS has also provided provisional funds to more than 650,000 students who are SASSA beneficiaries. 

This scheme is only for some students; it offers assistance only to students from low-income and needy backgrounds. The beneficiaries of this scheme must apply for NSFAS.

How Does NSFAS Work?

NSFAS supports the assistance of brilliant students who pursue higher studies after completing high school. The only requirement is that they should be from poor and needy backgrounds(households earning a combined income of at most R350,000 or less per year. 

To get an NSFAS allowance, eligible students must apply for funding. This assistance should be provided to those who are pursuing courses at TVET colleges and public universities in South Africa. 

This government-sponsored scheme only offers a few postgraduate degrees. OVCs (Orphaned and vulnerable children) who receive assistance from SASSA(South African Social Security Agency) are eligible for NSFAS finance for their higher studies.  For becoming eligible the first step is NSFAS Login. It’s the key to the treasure of NSFAS funds.

Who Can Benefit From NSFAS Allowance?

Students of public universities and TVET colleges in South Africa can benefit from the NSFAS allowance if they belong to the needy and low-income category. 

Types of NSFAS Allowances

These are the following NSFAS allowance in 2024 that covers both the students of public universities and TVET colleges in South Africa:

• Tuition Fees:  NSFAS pays the tuition fees of the students directly to educational institutions. It covers full payment of tuition fees for eligible students; it may vary from institution to institution. 
• Accommodation: The beauty of the NSFAS system is that it facilitates eligible students’ receiving assistance with accommodation costs.
• Living Allowance: Eligible students receive a stipend for their daily living expenses. 

How Much Does NSFAS Pay for University Students? 

NSFAS is paying funds at the following rates for accommodation, transport, personal care, and living allowances per student  of the public universities in 2024:-

Accommodation

• The students have the choice of applying for either a traveling allowance or a housing allowance. Additionally, NSFAS introduced a “differentiated accommodation cap” to distinguish between metro and non-metro areas. 
• It is expected that all institutional (owned or leased) and private accommodations will be funded at a fixed amount. In metro areas, the amount will be R50 000 (approximately R4166.67 per month), and in other regions, R41 000(approximately R3416.66 per month) per academic year. 
• The maximum capped allowance for students living in institution-catered accommodation is R66 500 (approximately R5541.66 per month) (in metro areas) and R57 500(approximately R4791.66 per month) (in other places). In addition to the accommodation allowance, the living allowance and personal care allowance are also included in this amount.
• In exceptional cases, institutions outside metropolitan areas may request a review of their designated accommodation cap by NSFAS. NSFAS will only consider requests that include detailed justification and supporting evidence.
• Students who secure their own accommodation will not receive the accommodation allowance but will be eligible for a travel allowance.. The tertiary institution will determine the maximum allowance amount, which is R7 875.

Transport: The students’ transportation allowance (up to 40 km from the institution) is R7 500 per annum.

• The living allowance for university students in 2024 will be as per the following rate:-

1. An annual living allowance of R15,000 is provided.
2. A book allowance of R5200 per year is provided.
3. A personal care allowance of R2900 per annum is available to students living in catered residences.

How Much Does NSFAS Pay for TVET College Students?

NSFAS is providing aid at the following rates for accommodation, transport, personal care, and living allowances per student  of the TVET College in 2024:-

TVET College Allowances:

Accommodation

• NSFAS is funding TVET colleges catered residency in metro areas up to R60,000(approximately R5,000  per month) and R50,000 (approximately R4166.67 per month)(both being per annum and capped amounts) into the non-metro area. These students have the choice to qualify for the NSFAS accommodation allowance or travel allowance. 
• The registered students at a TVET college for an occupational qualification may also have the option to qualify for allowance if they engage in simulated training. On the other hand, those students who are registered for an occupational qualification, enjoy an employment contract, and are getting a stipend will not qualify for NSFAS funding.

Students With Disabilities Allowances:

• Disabled individuals have some extra privileges of financial support through this scheme. They will receive money for living expenses including meals up to R20,000 (approximately R1666.66 per month) per year. They will also get R6,000((approximately R500 per month)for learning material. University students can use this learning materials allowance, but for students at TVET colleges, this cost is already covered in their tuition fees.
• Additionally, the students of TVET will get a one-time allowance of up to R50,000 (approximately R4166.67 per month) to buy assistive devices and also receive R2,000 (approximately R1666.66 per month) for the maintenance of these devices per academic year. 
• A person just living with a disability doesn’t qualify automatically for the assistive devices and repair allowance but he has to apply and meet the required criteria for qualification of this allowance. Only if your application is approved will you receive this allowance.

Who Should Not Apply For NSFAS Funding 2024?

• If you’re a student who has completed a previous qualification.
• If you’re a student with a combined household income of more than R350,000 per annum.
• If you’re a student who has already applied, qualified for the NSFAS funding, and received funding. The student will be funded throughout his studies as long as he passes his modules and meets academic requirements.

Who Qualifies For NSFAS Funding 2024?

• All citizens of South Africa are eligible for NSFAS funding.
• All the applicants/students of the SASSA grant who are qualified recipients are eligible for this funding. 
• Applicants whose combined household income is not more than R350,000 per annum. 
• Students who began their studies before 2018 and whose household income is no more than R122,000 per year are eligible for funding.

Conclusion-How Much Does NSFAS Pay

In a nutshell, the NSFAS funding scheme covers all types of study expenses of the students including accommodation, traveling, living expenses tuition fees, etc who are qualified for NSFAS funding. The students should understand how much does NSFAS pays and how to fulfill the criteria of this scheme. If you want to know more, feel free to ask any questions in the comments section.

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