How Much Is NSFAS Money
How Much Is NSFAS Money
The National Student Financial Aid Scheme is a government-funded initiative that assists South African students who cannot afford to pay for higher education. Its principal purpose is to ensure that worthy students, regardless of financial circumstances, have access to high-quality education. NSFAS provides financial assistance in the form of bursaries and loans to pay tuition, housing, books, and other study-related expenditures.
The amount of money you can receive from NSFAS depends on your specific situation. When establishing your eligibility for financing, NSFAS considers a number of variables.
READ: Can You Withdraw NSFAS Money?
What Does NSFAS Money Pay For?
In South Africa, the National Student Financial Aid Scheme (NSFAS) provides financial aid to qualifying students to help them meet the costs of higher education. NSFAS money is often used to pay a variety of expenditures associated with a student’s academic journey.NSFAS funds are typically used to pay for:
UNIVERSITY-
- Accommodation
- As per the actual costs charged by the university (costs for private accommodation must not exceed costs for university residence)
- Transport (up to 40 km from the institution) R7 500 per annum
- Living allowance R15, 000 per annum
- Book allowances R5200 per annum
- Incidental/personal care allowance of R2900 per annum for students in catered residences
TVET Colleges-
- Accommodation in an urban area is R24,000 per annum
- Accommodation in a peri-urban area is R18,900 per annum
- Accommodation in a rural area is R15,750 per annum
- Transport (up to 40 km from the institution) R7,350 per annum
- Transport R7000 per annum
- Incidental/personal care allowance R2900 per annum.
READ: Which Bank Does NSFAS Use?
Eligibility For NSFAS Money
To be eligible for NSFAS funding, you must meet specific criteria, including:
- South African citizenship or permanent residency.
- Financial need, as determined by NSFAS’s means test.
- Enrollment or acceptance at a recognized public university or TVET college.
- Meeting academic requirements as specified by NSFAS.
How To Apply For NSFAS Money
Follow the steps below to apply for NSFAS funding money;
- Visit the official website of NSFAS at: www.nsfas.org.za
- Click on the ‘myNSFAS’ tab.
- Create a myNSFAS account
- Click on the ‘APPLY’ tab and complete the sections on the screen
- Upload required supporting documents where applicable
- Click on ‘Submit’.
Documents Required to Apply For NSFAS Money
All applicants are required to upload and submit the following documents;
- All applicants must provide a copy of their ID. A temporary ID issued by the Department of Home Affairs will be accepted.
- Non-SASSA applicants must provide ID copies of parent/s, legal guardian/guardian or spouse.
- Smart ID cards: a copy with both sides of the smart ID must be provided.
- Proof of income: The applicant and/or parents/legal guardian/spouse (where applicable (non-SASSA) should provide the latest payslip not older than 3 months, UIF letter, appointment letter, retrenchment letter (applicant and/or parent(s), legal guardian/spouse)
- Passports/Driver’s licenses will not be accepted as proof of ID.
READ: NSFAS For TVET College 2024
NSFAS Contact Details
Email: info@nsfas.org.za
Facebook: National Student Financial Aid Scheme
Twitter: @myNSFAS
Instagram: @myNSFAS
WhatsApp: +27 78 519 8006
USSD:*120*67327#
The amount of NSFAS funding you are eligible for is determined by a number of variables, including your family’s financial position, tuition prices, and personal circumstances. If you match the qualifying criteria and successfully complete the application procedure, you will be able to obtain the financial assistance you require to continue your education and build a better future. Visit the official website of NSFAS for more information.
RELATED LINKS