The National Student Financial Aid Scheme (NSFAS) has confirmed the monthly allowance payments for students.
NSFAS provides comprehensive bursaries and student loans to deserving learners enrolled in approved courses at universities and TVET colleges. These bursaries cover tuition and registration fees, along with allowances for food, accommodation, and learning materials.
How Much Is NSFAS Allowance For 2024 Per Month
Students can receive an annual living allowance of up to R16,500, which includes R3,045 for personal care and R13,455 for meals. Additionally, they are eligible for a learning material allowance of up to R5,460 per year.
Students living with immediate family or relatives do not qualify for the accommodation allowance. Instead, they receive a travel allowance, determined by their institution, with a maximum of R7,875 for 2024.
Students with disabilities receive higher living allowances and an additional learning material allowance.
NSFAS divides allowance payments into ten equal instalments each year. This means the monthly living allowance is R1,650, with R304.50 for personal care and R1,345 for meals.
The allowance amounts students receive depend on factors like their living arrangements, travel needs, and the number of modules they are registered for.
How NSFAS Allowances Are Paid
NSFAS has confirmed that universities will manage the disbursement of student allowances for the remainder of the 2024 academic year. This means students at any of South Africa’s 26 public universities will receive their payments directly from their institutions.
For students enrolled in approved TVET Colleges, NSFAS will continue to deposit allowances directly into their bank accounts.
NSFAS urges students to ensure their banking details are uploaded and verified on the myNSFAS portal to prevent payment delays.
How TVET Students Can Upload Bank Details
- Visit the myNSFAS portal.
- Log in using your myNSFAS credentials.
- Select "Bank Account Details" under "Profile Information."
- Enter your bank details.
- Click "Save."
NSFAS has indicated that a new payment system is expected to be fully developed by September 2024, though it's uncertain whether this timeline may change due to the current arrangements. Further details regarding the allowance distribution for the 2025 academic year will be provided later.
