It is expected that nearly 1 million students will be funded through the National Student Financial Aid Scheme in the 2023 academic year. The following are the allowances that university students can expect to receive during the current academic year.
How Much Student Receive Bursaries
An estimated 900,000 students are expected to receive bursaries through the bursary scheme in the 2023 academic year, with a budget of R47.6 billion.A million students will receive NSFAS funding by the end of this year.
Higher Education Minister Blade Nzimande announced on Tuesday that the National Student Financial Aid Scheme will increase all allowances by 5%. Within Nsfas’ budget, Nzimande confirmed that living allowances will rise by 10% from last year and be adjusted for inflation.
Accordingly, our living allowance increment across the board will be R1,650 per month, which is a 10% increase over 2022. According to the Minister, this increase exceeds inflation considering there has been no increase for three years.
NSFAS-funded students at universities will receive the following allowances
- Learning materials allowances of R5,460 and accommodation allowances of R61,500 are provided to students living in university accommodation with catering.
- A self-catering university student will receive a learning materials allowance of R5,460 and a living allowance of R16,500, with a maximum accommodation allowance of R45,000.
- A living allowance of R16,500 and a learning materials allowance of R5,460 will be provided to students living with relatives (not in private accommodation).
- Accommodation allowances for students living in private off-campus accommodation are capped at R45,000 and include R5,460 for learning materials and R16,500 for living costs per year.
Learning Materials Allowances Availability
Learning materials allowances are available only to students studying less than 60 credits towards their qualification at distance universities as of the 2023 academic year.
The personal care allowance of R3,045 per academic year is also available to distance university students studying an equivalent full-time course load. In order to qualify, a student must register for a minimum of 120 credits per academic year.
Furthermore, Nsfas-funded TVET college students will receive a R6,000 living allowance for the first time. Approximately R54,000 per year will also be paid to these students as an accommodation allowance.On Tuesday, 31 January 2023, applications for the 2023 funding cycle closed.
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