The National Student Financial Aid Scheme (Nsfas) plays a pivotal role in ensuring that South African students do not face financial barriers in their quest to obtain tertiary education qualifications.
Minister of Higher Education and Training, Blade Nzimande believes that the government’s latest commitment to Nsfas will ensure they continue to support thousands of students every year.
The minister revealed that R80 Billion has been set aside by the government for the next three years to ensure deserving students from poor and working-class backgrounds can access tertiary education.
Minister Nzimande said this investment will ensure the post-school education sector becomes more accessible and inclusive for all students.
“This is a massive investment in student support and an important government policy to support and transform the post-school education and training system to be inclusive and accessible,” said Nzimande.
This number of students supported by the bursary scheme has grown substantially since its inception in 1991 where they operated with a budget of R21.4 million. The bursary scheme assisted 29,176 students in 1999 on a budget of R441 million.
During the 2022 academic year, Nsfas used almost R50 Billion to assist 691,432 deserving students in South Africa. Female students accounted for 462,983 of the funded students while 227,072 male students were funded.
These students were enrolled in approved academic courses at public universities and Technical and Vocational Education and Training (TVET) colleges.
Nsfas will be allocated an R49 billion budget in the 2022/23 financial year. This money will be distributed to deserving students who were approved for Nsfas bursaries.
Student Must Meet The Following Criteria To Qualify For A Nsfas Bursary
- Be a South African citizen
- Have a household income of R350,00 or less per annum
- Have a household income of R600,000 or less per annum for students living with a disability
- All Sassa grant recipients will automatically qualify for funding
The Nsfas bursaries are comprehensive and aim to ensure that all the costs students will encounter while studying are covered. This includes the payment of their tuition and accommodation fees. Students will also receive a transport allowance, stationery allowance and personal care allowance.
