How NSFAS Fund

How much money do you get from NSFAS, How NSFAS Fund

Financial aid is provided to deprived students who want to attend public universities or TVET colleges. The NSFAS Act (Act 56 of 1999) formed NSFAS, a government organisation housed inside the Department of Higher Education and Training. The National Student Financial Aid Scheme (NSFAS), mostly sponsored by the government, allows South African students to apply for financial aid. The NSFAS Act No. 56 of 1999, Section 14 (1) (b) and (e), make reference to the NSFAS Funds, which are composed of (b) donations or contributions and (e) any additional income the NSFAS obtains.

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NSFAS Funding Partners

below are the institutions that help to provide funds to NSFAS to support beneficials.

DEPARTMENT OF BASIC EDUCATION DBE’S FUNZA LUSHAKA

The Funza Lushaka bursary initiative seeks to identify and employ young people from every province in order to increase the number of young educators in the educational system, in line with goal 14 of the action plan for 2030. As a result, the department’s Funza Lushaka bursary initiative seeks to hire a new group of youthful, ambitious, and appropriately trained educators into the teaching profession. Thus, the Funza Lushaka bursary plan will concentrate on students under thirty in order to qualify for financing.

NATIONAL SKILLS FUND (NSF)

Offering bursary financing for academically deserving first-time undergraduate students from low-income families, or for those pursuing further education in fields where talents are highly sought after, is the aim of this project. The money will be given in line with the equality goals set forth in the Skills Development Act of 1998, as well as any upcoming changes that may be made.

DEPARTMENT OF EMPLOYMENT AND LABOUR (COID)

The Compensation Fund is inviting applicants for the Compensation Fund Bursary programme. These applicants should be dependents of COID Persons with Disabilities, unemployed people who suffered occupational diseases or injuries and subsequently became permanently disabled, and the relatives of workers who died on the job. Furthermore, general youth enrolled in COVID-19-related courses at public universities are supported by this money.

TRUTH AND RECONCILIATION COMMISSION (TRC) – DHET REPARATIONS

The Promotion of National Unity and Reconciliation Act of 1995 was enacted by Parliament in response to regulations issued by the Department of Justice (DoJ) concerning victim assistance. Victims: The DoJ bursary office selects victims who are related to or dependent on victims as defined by the TRC. Changes made in 2017 through a Parliamentary Gazette brought in extra benefits for TRC victims, increasing the appeal of the bursary system.

DEPARTMENT OF MILITARY VETERANS (DMV)

The primary goal of the Department of Military Veterans (DMV) is to assist veterans of the armed forces and their families in light of their invaluable contributions to South Africa. Through bursary financing for qualifying individuals, DMV aims to offer educational help to financially eligible military veterans and their dependents who are listed on the DMV Database.

DEPARTMENT OF AGRICULTURE, LAND REFORM AND RURAL DEVELOPMENT (DALRRD

In an effort to address the severe skills shortage in the industry, the DALRRD launched the external bursary programme in 2004. The programme encourages young people to pursue careers in agriculture, forestry, and fisheries. The external bursary policy, which was authorised and endorsed by the Executive Committee (EXCO) in 2003, governs the programme. Comprehensive bursaries will be given by DALRRD to eligible candidates who are pursuing or want to pursue further education in specific fields related to agriculture, forestry, and fisheries.

THE RURAL EDUCATION ACCESS PROGRAMME (REAP)

A non-profit organisation called REAP was founded in 2000 with the goal of facilitating postsecondary education access for young people from South Africa’s underprivileged rural communities. The collaboration between NSFAS and REAP makes it possible for the programme to fulfil its goal of helping students from working-class and poor families who would not otherwise be able to afford to attend tertiary education attain success in higher education and training.

SETA

The National Skills Development Strategy (NSDS) created the SETAs as a programme to help those in need of extra training and skills, including youth who are not enrolled in school.

SETAs provide priority to the “missing middle,” a term used to describe students who struggle to find funding on their own but are judged not to be sufficiently impoverished to be eligible for government funding, whereas NSFAS funds the poorest of the poor.

THE FIBRE PROCESSING AND MANUFACTURING (FP&M) SETA

The government decided to cluster sectors in order to increase value-chain links between linked industries, and on April 1, 2011, the Minister of Higher Education and Training, Science and Innovation, founded the FP&M SETA. This SETA is a DHET organisation.

It is divided into 13 sub-sectors: publishing, pulp and paper, textiles, wood products, forestry, apparel, footwear, leather goods, packaging, printing, and print media. Despite being categorised separately, the sub-sectors work closely together. Over the years, this SETA has decided to work with NSFAS in order to provide funding for eligible students.

The Amount NSFAS Fund Student

The sums specified for accommodation, a living allowance, transport and school supplies ought to be in line with the most recent DHET guidelines that have been authorised.

UNIVERSITY

Accommodation
As per the actual costs charged by the university (costs for private accommodation must not exceed costs for university residence)
Transport (up to 40 km from the institution) R7 500 per annum
Living allowance R15, 000 per annum
Book allowances R5200 per annum
Incidental/personal care allowance of R2900 per annum for students in catered residences

TVET