How much nsfas pay per month

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How much nsfas pay per month

How much nsfas pay per month

NSFAS was established according to the National Student Financial Aid Scheme Act (Act 56 of 1999) and incorporated TEFSA (Tertiary Education Fund of South Africa). From 1993 to 2000, TEFSA was the primary non-profit company in terms of Section 21 of the Companies Act and ceased to operate in July 2000. All existing loans on the TEFSA books were transferred to NSFAS.

Financial Aid
The NSFAS Act enables any student to apply for a bursary from NSFAS but allows the board to impose conditions, generally, or in respect of a particular loan or bursary. Such conditions include the use of the means test and the loan conversion of up to 40 per cent of any loan as an incentive for academic success.
It provides for payment by NSFAS of the amount of the loan or bursary “to the designated higher education institution”, rather than to the applicant. It also allows NSFAS to enter into what is in effect an agency agreement with higher education institutions (HEIs) or further education and training (FET) colleges.

The 2022 Allowances are as follows
o Once off Book Allowance R 5 200 paid into student personal bank account

o Meal Allowance R 15 000 paid over 10 months (Feb Nov) paid into a student personal bank account

o Travel allowance for students staying at home R 7 500 over 10 months (Feb Nov)

o Accommodation allowance for students staying at UJ Privately Owned Student Accommodation R40 404 over 10 months
.

In February 2022, students will receive a onceoff cashbook allowance of R 5 200 and a living

allowance of R 1500.

Once the consent form has been completed we will establish where the students are residing and the travel allowance will be loaded for 10 months for students staying at home. Students staying at accredited UJ accommodation are required to submit to Student Finance an invoice and a lease agreement for the accommodation allowance amount to be loaded. Please note that the request for lease agreements is an instruction from DHET

How To Log In To MyNSFAS Account?

Here is how you can create your myNSFAS account:

  • Go to www.nsfas.org.za and click on “myNsfas account“.
  • Enter your username and password. The username is usually your email address.
  • Click on the “My personal details” tab.
  • Update your cellphone number and/or email address to your current one.
  • Click “Update your details” to proceed.
  • A Time Pin (OTP) will be sent to the new number and email address that you have provided.
  • Enter the OTP and click submit.
  • Your details will immediately be updated.

If you’re an applicant with an existing account, you can sign in using your usernames and password or Facebook and Google accounts.

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