NSFAS Monthly Allowance 2024

NSFAS Monthly Allowance 2024

The NSFAS (National Student Financial Aid Scheme) Monthly Allowance is a financial assistance program offered by the South African government to eligible students pursuing higher education at public universities and TVET (Technical and Vocational Education and Training) colleges in South Africa. This allowance is intended to reduce the financial strain on students and their families, allowing them to focus on their studies without having to worry about essential living expenses.NSFAS has played an important role in making tertiary education available to a large number of students across the country. The National Student Financial Aid Scheme (NSFAS) is a government initiative that provides financial aid to qualified South African students to help cover the costs of their higher education.

READ: How Much Does NSFAS Pay For Accommodation?

What Does NSFAS Monthly Allowance 2024 Cover?

The amount of the NSFAS Monthly Allowance varies depending on a number of criteria, including the student’s financial need, the institution they attend, and the sort of qualification they are seeking. The allowance amount is subject to annual adjustment to account for price increases and other economic considerations. Amounts indicated for accommodation, living allowance, transport and learning materials need to be aligned with the approved latest DHET guidelines. Below are some of the things NSFAS covers and the amounts allocated;

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 Status Check 2024/2025

NSFAS Allowance General Information 2024

Beneficiaries of NSFAS must note the following;

• All allowances are paid over a period of 10 months only.
• The living allowance is R1 650 per month (for a total of 10 months) – this is a 10% increase from the 2023 academic year and is above inflation. The Minister of Higher Education, Science and Innovation, Dr. Blade Nzimande, announced this increase as there has not been an increase in 3 years.
• The living allowance of R16 500 includes the personal care allowance of R3 045.

Who Qualifies For NSFAS Allowance 2024?

The NSFAS Monthly Allowance is intended to give financial assistance to South African students who satisfy certain conditions. In order to be eligible for this allowance in 2024, the applicant must:

• Be a South African citizens
• Be SASSA grant recipients qualify for funding
• Applicants whose combined household income is not more than R350 000 per annum
• Person with disability: Combined household income must not be more than R600 000 per annum
• Students who started studying before 2018 and whose household income is not more than R122 000 per ann.

How To Apply For NSFAS Allowance 2024

Follow the steps below to apply for NSFAS Allowance in 2024;

• Go to www.nsfas.org.za and 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’.

READ: NSFAS Student Portal

NSFAS Contact Details

NSFAS Virtual Contact Centre

We are available to assist through the following channels:

• Email: info@nsfas.org.za
• Facebook: National Student Financial Aid Scheme
• Twitter: @myNSFAS
• Instagram: @myNSFAS
• WhatsApp: +27 78 519 8006
• USSD:*120*67327#

For South African students seeking higher education, the NSFAS Monthly Allowance for 2024 is a lifesaver. Visit the official website of NSFAS for more information.

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