NSFAS provides a monthly allowance to the students. With the NSFAS program, students from low-income and working-class households can complete their higher education and training without having to foot the bill. Additionally, scholarships are offered to qualified students enrolling in public universities and TVET institutes.
NSFAS makes it possible for scholars to pursue their studies without facing financial difficulty. It provides help to ensure they achieve the most from their education from the start to graduation.
This financial aid program covers most of the expenditures that students face for all aspects of their education.
NSFAS Monthly Allowance 2022
NSFAS funding covers not just registration and tuition expenses but also extra annual allowances. These allowances in 2021 include:
- An accommodation stipend is based on what the college or university charges
- An R5,200 book allowance.
- An R15,000 monthly stipend
- An R2,900 personal care allowance
Note: The cost of private accommodation cannot surpass the cost of institution-provided hostels.
- An R7,500 transport allowance (it should not be more than 40km from the place of study).
What does NSFAS funding cover?
It includes everything from registration costs, food, tuition fees, personal care, housing, instructional materials, and transportation.
Students with disabilities receive additional assistance, like medical evaluation. One evaluation is provided throughout the qualification process and if the disability Unit/Student Support request During the study, one piece of assistive equipment will be provided to the participant. Human support services may include caregivers, tutors, translators, or sign language interpreters.
Do students pay back NSFAS?
Yes, NSFAS must be repaid!
Students borrow money to finance their educational expenses. However, the loan must be repaid only once you have completed your qualification, left university or college, obtained employment / started a business, and earn R30,000 or more per year.
Every penny of repayment goes toward providing support for other students.
However, starting in 2018, NSFAS has been converted into a bursary, and if you began receiving NSFAS support after 2017, you will not be required to repay anything.
How much is the NSFAS allowance for college students?
R2 900 annually.
All NSFAS-funded students receive a personal allowance of R2900 annually.