Is NSFAS Allowance Extended

Is NSFAS Allowance Extended

The National Student Financial Aid Scheme (NSFAS) has been a lifeline for numerous South African students, facilitating access to higher education by paying tuition fees and giving allowances for basic living expenses. However, in the aftermath of the COVID-19 outbreak and the economic hardships it has caused, many have inquired whether NSFAS allowances have been increased to provide additional assistance to students during these trying times.

NSFAS allowances are intended to relieve students’ financial burdens by providing them with the ability to meet necessary living expenditures while completing their education. Accommodation, food, textbooks, and personal expenditures are often covered by these allowances. Previously, these allowances were subject to particular qualifying conditions and restrictions, but the plan has evolved over time to accommodate these changes in students.

READ: Who Funds NSFAS

What Does The NSFAS Allowance Cover?

The NSFAS allowance covers the expenses of acquiring higher education in Public universities or TVET Colleges in South Africa. The NSFAS allowance covers;

* 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

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: NSFAS TVET Colleges

Disbursements Of NSFAS Allowances

NSFAS allowances are usually distributed at the start of each academic term or semester. These allowances are given to students based on their specific financial circumstances and the cost of their selected courses. These allowances are intended to last the whole academic year or semester for which they were granted. It is important to understand that the NSFAS allowance is not a one-time payment, but rather a series of payments made throughout the academic year to ensure that students have enough financial assistance.

NSFAS Allowance Extension Factors

Several variables can impact the future extension or change of NSFAS allocations. These factors may include:

Government Funding: NSFAS operates under the authority of the South African government, and the availability of sufficient financial resources is essential in determining the feasibility of extending the allowances.
Economic Conditions: Fluctuations in the economy and the overall financial climate of the country can have an impact on the budget allocated to NSFAS.
Policy changes may affect the qualifying criteria, quantities, and duration of allowances issued.

READ: Will NSFAS Be Extended

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