NSFAS Book Allowance 2023
NSFAS Book Allowance
NSFAS was established according to the National Student Financial Aid Scheme Act (Act 56 of 1999) and incorporated TEFSA (Tertiary Education Fund of South Africa). From 1993 to 2000, TEFSA was the primary non-profit company in Section 21 of the Companies Act and ceased operating in July 2000. All existing loans on the TEFSA books were transferred to NSFAS.
Financial Aid
The NSFAS Act enables any student to apply for a bursary from NSFAS but allows the board to impose conditions, generally, or in respect of a particular loan or bursary. Such conditions include the use of the means test and the loan conversion of up to 40 per cent of any loan as an incentive for academic success.
It provides for payment by NSFAS of the amount of the loan or bursary “to the designated higher education institution”, rather than to the applicant. It also allows NSFAS to enter into what is in effect an agency agreement with higher education institutions (HEIs) or further education and training (FET) colleges.
| NSFS ALLOWANCE CATEGORY | ANNUAL AMOUNT | SELF-CATERED/CATERED RES |
|---|---|---|
| Study Materials (Once Off) | R5,200 | R5,200 |
| Accommodation (Max) | R5,617 (Private) | |
| Living Allowance | R15,000 | R1,500 |
| Incidental Allowance | R2,900 | R290 |
| Travel | R7,500 | R750 (Home) |
- Accommodation:
Your accommodation is crucial. Unlike University students, the amount here had been fixed, and you already know what you will get depending on the area you stay in.
If you reside in an urban area, you will get R24 000 per year from the NSFAS allowance. Those that stay in the peri-urban area will be given R18 900 per year under the allowance system. Additionally, those staying in a rural area are entitled to R15 750 per year as beneficiaries, for their accommodation allowance.
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- Transport:
Beneficiaries in this category are getting R7 350 (up to 40 km from the School) via NSFAS allowance, to help their cost in moving from one place to another.
- Personal Care allowance:
This was really recently introduced to assist students in paying for toiletries, which is so thoughtful of the administrators. You will get R2 900 per year to take care of these responsibilities.
Who qualifies for NSFAS funding?
- All South African citizens
- All SASSA grant recipients qualify for funding
- Applicants whose combined household income is not more than R350 000 per annum
- A person with a disability: Combined household income must not be more than R600 000 per annum
- Students who started studying before 2023 and whose household income is not more than R122 000 per annum.
Ngfinders.com is here to bring you the latest on the NSFAS application process.
How to Apply for NSFAS Online 2023
If you would like to apply for NSFAS 2023, follow the steps outlined below:
- You have to visit the NSFAS website: www.nsfas.org.za online
- Then, you have to click on the “myNSFAS” tab
- After that, you create your myNSFAS account
- After creating myNSFAS account, you then have to click on the “Apply” tab
- Answer the following questions you see on your screen
- Update all your personal information
- Upload all the required supporting documents
- Lastly, Click on “Submit” to send your application for review.
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