The National Student Financial Aid Scheme (NSFAS) aimed to ensure that allowances were paid to students at the commencement of the 2023 academic year. However, several challenges still occurred and led to delays in the payment of allowances to students.
In 2022, NSFAS allocated R3.5 billion to make provision for the payment of allowances to funded students between February 2023 and April 2023. Payments were made to universities and Technical and Vocational Education and Training (TVET) colleges.
NSFAS revealed that upfront payments were made to universities and TVET colleges on 31 January 2023. An additional upfront payment was made to universities, and in March allowance allocations for students were being finalised.
Another upfront payment was made to Universities on 6 March 2023. This was paid as institutions were still finalising allowance allocations and claims for the registration date.
Payments made for TVET college students were based on the registration data submitted to NSFAS as of 17 March 2023. Two payment runs were made by this based on the registration data received by the financial aid scheme.
Students who did not have user-profiles were subsequently paid allowances by 18 March 2023. NSFAS will also be doing a third payment run to pay allowances to students whose registration was received late.
NSFAS spokesperson Slumezi Skosana says while NSFAS aimed to ensure students received their allowances at the beginning of the 2023 academic year, there were delays.
They explained that delays in the payment of allowances often occur when institutions don’t provide NSFAS with the registration data of students.
To mitigate these challenges, NSFAS now publishes a funding list. Universities and TVET colleges can have access to this funding list, allowing them to quickly verify if a student is funded by NSFAS.
Increase To Living Allowance
NSFAS announced that the living allowance received by funded students would increase by 10% for the 2023 academic year. The living allowance is provided to students for meals, welfare, toiletries and upkeep.
Students will now receive a living allowance of R16,500 annually, an increase from R15,750 received periodically by students. The living allowance is normally provided to students over ten months
Skosana explained that there was no increase to the living allowance from 2020. Following consultation with various stakeholders in the higher education sector, Minister Blade Nzimande agreed to the increase in allowances.
After concurrence by the Minister of the 10% increase in allowances, institutions have started to load registration data inclusive of this confirmed increase.
NSFAS will pay a student’s tuition and registration fees. Funded students are also provided with an accommodation allowance, a living allowance and a learning material allowance.
