NSFAS Plans for 2024 Allowance Payments. Approximately one million students are set to benefit from NSFAS funding in 2024, with the National Student Financial Aid Scheme (NSFAS) outlining its plans for allowance payments to students.
The NSFAS provides comprehensive bursaries to over one million students enrolled in approved programs at Universities and Technical and Vocational Education and Training (TVET) colleges across South Africa.
Value of NSFAS Bursaries
Students approved for NSFAS bursaries receive financial assistance covering tuition, registration fees, and various allowances for expenses such as accommodation, transport, food, and stationery.
Upfront Payments for 2024 Academic Year
NSFAS aims to ensure students have necessary funds at the start of the 2024 academic year by making upfront payments to universities.
Allowance Payment Schedule
NSFAS will cover tuition and accommodation allowances for universities at the end of January, with monthly payments thereafter. However, a deviation from the norm will occur in February and March 2024, as students will receive bi-weekly payments during these months.
Eligibility Criteria for NSFAS Allowances
NSFAS bursaries and allowances are designed to assist students from poor and working-class backgrounds. Eligibility criteria include enrollment in approved programs at public universities and TVET colleges, with a combined household income below R350,000. Students with disabilities may qualify with a household income not exceeding R600,000.
NSFAS 2024 Application Period
The application window for NSFAS 2024 funding is now open. Prospective students can submit their bursary applications on the official NSFAS website. The application period extends until 31 January 2024, providing just over one month for submission.