NSFAS Allowances For University Students 2024 . In 2024, NSFAS will distribute its allowances to qualifying students in accordance with its plans. You can read all the details about Nsfas Allowances For 2024 University Students here.
NSFAS Allowances For University Students 2024
New allowance funding allocations for the 2024 academic year have been announced by the Department of Higher Education and Training (DHET) and National Student Financial Aid Scheme (NSFAS).
According to Blade Nzimande Minister of Higher Education
According to Blade Nzimande, Minister of Higher Education, Nsfas will spend R47.6 billion in funding allocation in 2024.
As part of the budget allocated to Nsfas for this year, allowances have been adjusted to account for inflation.
In order to support its students, NSFAs has introduced an allowance system that covers the majority of the extra costs associated with higher education, such as accommodation and textbooks.
As part of the government bursary program, students are eligible to receive student allowance funding to cover study-related expenses.
As soon as academic activities resume, NSFAS beneficiaries receive the monthly student allowance. A student receives these allowances in cash, either directly through their NSFAS Wallet or via their institution.
According to Nzimande, university students will receive a R5,460 learning material allowance per year, along with a R61,500 accommodation allowance.
The number of students eligible for funding is also expected to increase by 7%
Students studying less than 60 course credits towards their qualification, as of the 2024 academic year, are only eligible for learning materials allowances.
A personal care allowance of R3,045 per academic year is available to distance university students studying an equivalent full-time course load. Students must register for at least 120 credits in one academic year to qualify.
For NSFAS-funded students living at universities without catered residences, a living allowance will be provided to cover food and other expenses. There will be a R15,750 allowance in 2024, which will be divided into R3,045 for personal care and R12,705 for meals.
Either the travel allowance or the accommodation allowance may be available to students
Accommodations owned or leased by the institution, as well as private accommodations, will be capped at R45,000 per academic year. Nsfas or institutions will be required to pay private accommodation allowances directly to private accommodation service providers.
Using the Minimum Norms and Standards For Student Housing (MNSFSH), university accommodations (private and public) will be accredited to ensure that students have adequate living conditions.
To determine the rental rate for accommodations that do not meet the MNSFSH criteria, Nsfas or an institution will conduct a verification process.
Accommodation that does not meet the MNSFSH criteria will be rationed based on the criteria defined in Clause 7.2.4 by NSFAS:
- Students residing with immediate family or with relatives do not qualify for accommodation allowances. Instead, these students qualify for a travel allowance determined by the institution, up to a maximum of R7,875 in 2024.
- Students living in institution owned accommodation, or leased accommodation qualify for a capped annual accommodation allowance of up to R45,000 per annum.
- Students living in accredited private accommodation qualify for a capped accommodation allowance of up to R45,000 per annum.
- Students living in institution-catered accommodation qualify for a maximum allowance capped at R60,750 per annum (accommodation allowance that is inclusive of the living allowance and personal care)
- Institutions that wish to continue with the accreditation of private accommodation must apply to Nsfas.
- Nsfas will give a three months’ notice to institutions that were approved to continue with the accreditation and where Nsfas has put processes in place to take over the accreditation.
- Nsfas will develop a grading process to determine the accommodation rental for Nsfas-funded student.
- Nsfas will undertake verification of private accommodation to ensure the accommodation costs are in line with the quality of accommodation and comply with the MNSFSH standards.
- As of 2024, a student in need of private accommodation can apply directly to Nsfas provided the institution has not initiated a process of accreditation and placement of the student in an accommodation.
- Nsfas will facilitate signing of a lease agreement on behalf of a student and ensure payments directly to the Landlords where the student applied directly to Nsfas for private accommodation.
- Students only qualify for one accommodation allowance type per academic term.
For the 2024 academic year, university students are entitled to a learning material allowance of a maximum of R5,460.
In order to receive a learning material allowance, you must purchase academic books and materials, as well as a learning device. Students are only eligible for one allowance per academic year.
If a student receives financial aid from NSFAS for the first time, he or she must purchase a digital learning device (such as a laptop) in that year.
maximum allowance
An institution can apply for an exemption from the acquisition of devices on behalf of its beneficiaries, but NSFAS reserves the right to acquire them on behalf of its beneficiaries. Up to R5,460 is the maximum allowance for students enrolled in distance education programmes.
The NSFAS mandates that students at FTEN purchase digital devices with part or all of the learning material allowance. It is the student’s responsibility to cover insurance, maintenance, and/or repairs of computer equipment purchased, or data.