Know all about how much money does NSFAS give to students in 2024. We have shared the latest update on the NSFAS funding 2024 for better understanding. Read our article to get the exact information for the bursary.
- The amounts NSFAS pay to College and University students every year.
- UNISA and TVET college students are also covered by the National Student Financial Aid Scheme.
How much money does NSFAS give to students?
In 2024, students funded by the National Student Financial Aid Scheme (NSFAS) receive varying allowances based on their educational level and location. Let’s break it down:
TVET Colleges:
- Students at TVET colleges receive a monthly allowance of R10,000.
- This increased living allowance aims to bring parity between the university and TVET sectors.
University Students:
- University students funded by NSFAS receive a monthly living allowance of R1,650.
Additionally, you qualify for other allowances such as Learning Material Allowance amounting to a maximum of R5,460 per academic year for purchasing academic books and materials. Personal Care Allowance of R3,045 per academic year for distance university students and Meal Allowance at rate of R13,455 per year.
Accommodation Allowance varies based on accommodation type and location. For example:
- Students in institution-catered accommodation: Maximum allowance capped at R66,500 in metros and R57,500 in other areas per annum.
- Students making their own accommodation arrangements with immediate family or relatives: Qualify for a travel allowance (up to R7,875 in 2024).
- Differentiated accommodation caps apply to metro and non-metro areas.
Distance Education Students:
Students studying an equivalent full-time course credit load qualify for a personal care allowance of R3,045 per academic year. Learning material allowances are calculated based on the number of registered courses, up to a maximum of R5,460.
What we know
NSFAS provides financial support to students for the duration of their academic year. The payment period typically covers the months when students are actively enrolled and attending classes. Here are some key points:
For students at TVET colleges, the funding covers the entire academic year, which usually spans 10 months. University students funded by NSFAS receive support for the duration of their academic year, which typically includes 10 months. This period aligns with the standard university calendar, covering both semesters and any additional study periods.
READ MORE: Vocational Courses Offered in TVET Colleges
Distance education students also receive funding for the duration of their academic year, which is usually 10 months. The payment period ensures that students have financial assistance during their study and learning activities.
