NSFAS Allowances Boosted for the 2024 Academic Year

NSFAS Allowances Boosted for the 2024 Academic Year

NSFAS Allowances Boosted for the 2024 Academic Year. In a recent briefing on Tuesday, Minister Blade Nzimande announced uplifting news for students as NSFAS allowances are set to increase for the upcoming 2024 academic year. This update was part of the Minister’s comprehensive overview of the readiness of the Department of Higher Education for the approaching academic term.

Breakdown of 2024 NSFAS Allowances

University Students

Living Allowance

  • R16,500 per year (inclusive of R3,045 personal care allowance + R13,455 meal allowance)

Accommodation Allowance

  • Metro areas: Capped at R50,000 per annum for institution-owned or leased accommodation and private accommodation.
  • Other areas: Capped at R41,000 per annum.
  • Institution-catered accommodation: Capped at R66,500 in metro areas and R57,500 in all other areas per annum.
  • Exceptions: Non-metro areas can request NSFAS to review these caps under exceptional circumstances.

Travel Allowance

  • Up to a maximum of R7,875 per annum for students making their own accommodation arrangements or living with relatives.

Learning Material Allowance

  • All university students qualify for a learning material allowance, set at a maximum of R5,460 as a one-time payment for books and devices at the beginning of the academic year.

Distance Learning Students

  • NSFAS allowances for distance learning students, such as Unisa NSFAS students, depend on the number of registered modules, with a maximum of R5,460.
  • Full-time course credit load: Qualify for a personal care allowance at R3,045 per annum (requires 120 course credits in one year).

TVET College Students

Accommodation Allowance

  • Metro areas: R60,000 per annum for students at own catered residences.
  • Other areas: Capped at R51,000 per annum.

Learning Material Allowance

  • Included in the cost of tuition.
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Travel and Accommodation Allowances

  • Students may qualify for either the travel allowance or the accommodation allowance.
  • Students on an occupational qualification with stipend do not qualify for NSFAS allowances.

Students with Disabilities

  • Assistive Device Allowance: R50,000 once-off, with additional NSFAS funding of R2,000 per year for repairs and maintenance.
  • Approval: Subject to meeting conditions and criteria outlined in the policy standard.

Commitment to Parity and Support

Minister Nzimande highlighted a commitment to parity between the university and TVET sectors. An impressive R4.2 billion in upfront payments will be disbursed for the 2024 academic year, with R1 billion allocated to TVET Colleges and the remaining R3.2 billion to universities. This substantial upfront payment covers both registration fees and initial payments, exemplifying continued dedication to supporting and strengthening the TVET sector.

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