How much nsfas pay

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How much nsfas pay

How much nsfas pay

www.nsfas.org.za

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.

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.

How much nsfas pay

A lot of people (mostly students) keep wondering how much they will receive for their allowances. Here is something reliable, as it is coming from information made available on the NSFAS website.

NSFAS Allowance Amount

NSFS Allowance Category Annual Amount Self-Catered/Catered Res
Study Materials (Once Off) R5,200 R5,200
Accommodation (Max) R5,617 (Private)
Living Allowance R15,000 R1,500
Incidental Allowance R2,900 R290
Travel R7,500 R750 (Home)

It was stated that the following allowances are included in the bursary:

TVET 

Perhaps you are a student in a TVET college. Then this is for you. Let’s see the amount you will get as an NSFAS allowance.

  • Accommodation:

Your accommodation is crucial. Unlike University students, the amount here had been fixed, and you already know what you will get depending on the area you stay in.

If you reside in an urban area, you will get R24 000 per year from NSFAS allowance. Those that stay in the peri-urban area will be given R18 900 per year under the allowance system. Additionally, those staying in a rural area are entitled to R15 750 per year as beneficiaries, for their accommodation allowance.

  • Transport: 

Beneficiaries in this category are getting R7 350 (up to 40 km from the School) via NSFAS allowance, to help their cost in moving from one place to another.

  • Personal Care allowance: 

This was really recently introduced to assist students in paying for toiletries, which is so thoughtful of the administrators. You will get R2 900 per year to take care of these responsibilities.

It must be noted that students are funded according to their specific university needs as well as expenses. It should also be stated that allowances (both for University and TVET) are subject to yearly increases determined by the Consumer Price Index (CPI)

 

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