2024 NSFAS Allowances for TVET College Students. The Higher Education Minister recently announced an increase in NSFAS allowances for the year 2024. This includes specific allowances tailored for students attending Technical and Vocational Education and Training (TVET) colleges. In this article, we will delve into the details of these allowances and the support provided by NSFAS for TVET College students.
Minister Nzimande Initiatives for a Successful 2024 Academic Year
Minister Blade Nzimande shared insights into the preparations made by his department and affiliated entities to ensure a smooth start to the 2024 academic year. One crucial aspect of this readiness revolves around the financial support provided to students.
NSFAS Support for TVET College Students
The National Student Financial Aid Scheme (NSFAS) plays a pivotal role in offering comprehensive bursaries to students enrolled in approved programs at both universities and TVET colleges. As part of this support, NSFAS provides various allowances to funded students, covering essential aspects such as transport, living expenses, learning materials, and accommodation costs.
TVET Allowances Breakdown
TVET college students are eligible for a living allowance of R10,000 per annum.
- Self-catered accommodation in metro areas is capped at R60,000 annually.
- In other areas, the accommodation allowance is capped at R51,000 per annum.
- Students making their own accommodation arrangements with immediate family or relatives do not qualify for the accommodation allowance. Instead, they may be eligible for a travel allowance determined by the institution, up to a maximum of R7,875 in 2024.
- TVET College students may qualify for either the travel allowance or the accommodation allowance.
- Students registered for an occupational qualification may receive allowances unless they are engaged in simulated training. Students with an employment contract and stipend payment do not qualify for NSFAS allowances.
Learning Material Allowance
The learning material allowance for TVET College students is included in the overall cost of tuition.
NSFAS Financial Contribution to TVET Colleges
Minister Nzimande disclosed that NSFAS will disburse R1 billion to TVET colleges, ensuring a seamless commencement of the 2024 academic year. This significant financial injection aims to guarantee that students have timely access to their allowances, fostering a conducive learning environment.