NSFAS offers their students monthly allowances to cope with the many monthly costs associated with attending a university or institution.
In addition to tuition fees, attending a university or TVET college has many other costs, such as buying textbooks, stationery, meals, and personal items.
By implementing an allowance system that covers the majority of these additional fees, NSFAS has aided its students.
Students who meet the requirements for a government scholarship are also entitled to receive student allowance money to cover costs associated with their studies.
NSFAS recipients receive a monthly student payment, which often starts as soon as classes restart. These allowances are provided in cash, either to the student directly through NSFAS Wallet or to the student through the institution.
The Consumer Price Index is used to assess how much annual increases in allowances will cost (CPI). The amount of money given to students depends on their unique circumstances and university costs.
The NSFAS website states that the bursary includes the following allowances:
• The sum for housing is the real fee the university charges. If private, the price cannot be more than the price of on-campus housing.
• Transportation: R7 875 annually (up to 40 km from the institution)
• The annual living allowance is R15,750.
• A yearly book allowance of R5,460 (only applies at universities)
• Allowance for personal care: R3 045 annually
- TVET college own catered residence – R54 045 per year
- TVET college managed owned and leased self-catered accommodation – a 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
Recently, the personal care allowance was created to help students with the cost of toiletries.
Visit the website of NSFAS for additional details.