nsfas benefits for applicants 2023-2024
Brief Summary on National Student Financial Aid Scheme (NSFAS)
The National Student Financial Aid Scheme (NSFAS) came into being on 1991 to take the place of Tertiary Education Fund of South Africa (TEFSA) in 1999. NSFAS is fully braced by the Department of Education and training. The main motive of NSFAS is to give financial help to qualified students to help pay for the cost of their tertiary education at any TVET college or University.
What benefits does NSFAS give to students?
NSFAS will cover the following students studying at a national university:
· Tuition fees: NSFAS will cover a course from any university, vocational education and training education if students does well academically and pass all the modules that are within the course material
· Accommodation: NSFAS will only take care residence accommodation and will not cover any form of private accommodation if students exceed the cost of staying in a university residence
· Transport: Funding will only be given to students travelling up to 40km from a university which typically accumulates to R10 000 a year.
· Students are also given a living allowance amounting to R14 400 per annum
· Students will also get a book allowance of R5 000 per annum
Brief Summary on National Student Financial Aid Scheme (NSFAS) will cover the following students studying at a TVET institution:
· Accommodation: Students living in an urban area will get R24 000 a year, any area between the city center and the outskirts of a central town will get a budget of R18 000 per annum and lastly an allowance of R15 000 is allocated for students living in a rural area.
· Nsfas Transport covers students travelling up to 40km from an institution and the budget amounts to R10 000 per annum.
· Adding there is a personal care allowance of R2 750 per annum.
· There is also a personal care budget which amounts to R2 850 per annum for students based in catered residences
Student quick note
All Students applying for a NSFAS loan will only be funded for a maximum of 5 years based on the availability of funding in each year. In an event where students change their course of study and your studies take more than 5 years to complete, students will have to pay for their own studies until they graduate.
Below are Nsfas Usful Links for applicants
nsfas application status nmmu
nsfas bursary application
nsfas bursaries for teaching
nsfas bursary forms
nsfas banking details