How Much Does NSFAS Pay Per Student Per Month?
How Much Does NSFAS Pay Per Student Per Month? How much is the NSFAS student allowance for 2024 per month?
Supporting South African students pursuing higher education is made possible in large part by the National Student Financial Aid Scheme (NSFAS). The monthly financial support amount that NSFAS offers to each student is one of the frequently asked questions among potential beneficiaries. We will explore the specifics of NSFAS funding in this post, along with the monthly amount that students receive. It is important to understand NSFAS before we go into the specifics of the monthly payment. NSFAS is a government-funded programme designed to give qualifying South African students financial aid in order to pursue postsecondary education. To pay for tuition, housing, study materials, and other educational costs, it provides a range of funding options, such as loans and bursaries. There is a book allowance of R5,200. The living allowance is R15,000. There is a personal care allowance of R2,900. The student will receive a transport allowance of R7,500 (no farther than 40km from their place of study).
Monthly Allowance from NSFAS: How much is NSFAS student allowance for 2024 per month?
The amount that NSFAS pays to students per month can vary, and it is subject to a few factors:
- Income Threshold:
NSFAS takes into account the financial needs of each student based on their family’s income. Those with lower income levels receive more financial aid.
- Type of Support:
NSFAS offers both bursaries and loans. Bursaries are generally more generous, as they do not need to be repaid. Students with NSFAS bursaries may receive a larger monthly allowance.
- Study Level:
The monthly allowance can differ depending on the level of study. Undergraduate students may receive a different amount than postgraduate students.
- Institution and Location:
The cost of living can vary depending on the institution you attend and its location. Students in urban areas may receive slightly higher allowances due to higher living costs.
The NSFAS website lists the following allowances as part of the bursary
UNIVERSITY
- Accommodation: The amount is the actual cost charged by the university. If private, the cost must not exceed the costs for university residence.
- Transport: R7 875 per year (up to 40 km from the institution)
- Living allowance: R15 750 per year
- Book allowance: R5 460 per year (only applies at universities)
- Personal Care allowance: R3 045 per year
TVET
- Accommodation:
- TVET College own catered residence – R54 045 per year
- TVET college managed owned and leased self-catered accommodation – maximum of R45 000 per year and R6 000 per year living allowance paid to the TVET college
- private accommodation – R45 000 per year
- Transport: R7 718 (up to 10 km from the institution)
- Personal Care allowance: R3 045 per year
- Living allowance: R6 000 per year
How to Calculate Your NSFAS Permit
To determine your individual NSFAS allotment, you ought to:
- Apply for NSFAS: You must send in a thorough and accurate application to NSFAS, along with comprehensive details about your financial circumstances.
- Get a Funding Decision: Following the processing of your application, NSFAS will send you a funding decision that includes information on the total amount of funding that you qualify for.
- Verify with Your Institution: The financial aid office at your university can offer more details and advice about your NSFAS funding, including the monthly allowance.
Based on their level of study, financial need, and the kind of support they receive (loans or bursaries), NSFAS offers financial assistance to South African students. Although it varies each month, the allowance is meant to help with living expenses while a student is pursuing a higher degree. It is imperative that you submit an accurate and complete application and receive a funding decision from NSFAS in order to find out your individual NSFAS allowance. Regarding your NSFAS funding, your institution’s financial aid office can also offer helpful information and assistance. APPLY NOW
RELATED LINKS:
Contact NSFAS
For general, student and NSFAS Wallet enquiries
For all other queries regarding students:
Tel No.: 08000 67327
Email: info@nsfas.org.za
Physical Address
The Halyard, 4 Christiaan Barnard St,
Cape Town City Centre, Cape Town, 8001