Underprivileged students can get financial aid to continue their education through the National Student Financial Aid Scheme (NSFAS), a government-funded scholarship. NSFAS provides funding for TVET colleges and public universities.
Students receive monthly allowances to help with a variety of living costs. These prices cover lodging, food, study materials, and transportation.
NSFAS launched a new direct payment method using the NSFAS MasterCard in collaboration with eZaga in an effort to simplify payment of these allowances and avoid payment delays. One of the providers of third-party financial services is the digital banking platform eZaga.
NSFAS-funded students will receive a MasterCard and a bank account where their monthly stipends will be deposited. Here is how students can send money to another bank account if they need to.
How to Transfer Allowances to Other Banks
- Register using the eZaga App.
2. On the home screen, click “Pay recipient.”
3. Enter the beneficiary’s information and the payment proof.
4. Send the OTP now.
5. Enter the OTP to send money.
6. Click “Confirm.”
The students are currently funded based on the tertiary institution they attend. The current allowance amounts are as follows:
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 500 annually (up to 40 km from the institution)
Living stipend: R15,000 annually
Annual book allowance: R5200 (only applies at universities)
Allowance for personal care: R2900 annually
in an urban region, R24 000 annually; in a peri-urban area, R18 900 annually; and in a rural area, R15 750 annually.
Travel: R7 350 (up to 40 km from the institution)
Allowance for personal care: R2,900 annually
The introduction of the personal care stipend was made to help students with the cost of toiletries.