NSFA ensures all financially vulnerable tertiary students at the nation’s 50 universities are supported in their tertiary studies through the scheme. What is the process for carrying out this work? How are NSFAS allowances paid out to university students?
Who Pays Out NSFAS Allowances To University Students?
During the course of the year, funds are allocated by the National Student Financial Aid Scheme (NSFAS) to universities. After student funding applications have been approved, universities distribute the allowances to eligible students.
Students at some universities receive allowances through payment administrators, Intellimali, but others receive the funds directly in their bank accounts.
NSFAS also stated that students should seek clarification from their institutions as they determine which allowances they may be eligible for. The bursary scheme covers the following items for universities:
- Accommodation
- According to the university’s actual charges (private accommodation costs cannot exceed university residence costs).
- Approximately R7 500 per annum for transportation up to 40 kilometers from the institution
- Book allowances of R5200 per year Living allowance of R15000 per year
- For students living in catered residences, an incidental/personal care allowance of R2900 is provided.
The following requirements must be met in order for students to qualify for NSFAS funding:
- Be a South African citizen
- You will qualify for funding if you receive a Sassa grant
- You must have a combined household income of less than R350 000 per year to qualify for the program
