NSFAS Payment Dates TVET College NCV 2024 | Allowance Payments Dates for NSFAS Students – 2024, 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 terms of Section 21 of the Companies Act and ceased to operate in July 2000. All existing loans on the TEFSA books were transferred to NSFAS.
Their mission is to transform NSFAS into an efficient and effective provider of financial aid to students from poor and working-class families in a sustainable manner that promotes access to, and success in, higher and further education and training, in pursuit of South Africa’s national and human resource development goals.
The National Student Financial Aid Scheme (NSFAS) was established in terms of the National Student Financial Aid Scheme (Act 56 of 1999).
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 2018 whose household income is not more than R122 000 per annum.
Your NSFAS application will not be considered if you
- already had NSFAS funding in 2020.
- have already completed an undergraduate degree/diploma.
- are not a South African citizen.
- need funding for a short learning certificate or programme.
- need funding for a postgraduate qualification, with an exception of the following qualifications:
- BTech – Architecture / Architectural Technology
- BTech – Engineering (all disciplines), Cartography, Forestry
- BTech – Biokinetics, Biomedical Technology, Biotechnology
- BTech – Chiropractic, Homoeopathy, all Nursing
- BTech – Clinical or Dental Technology, Emergency Medical Care
- Postgraduate Certificate in Education
HOW TO APPLY
- To begin, you must create your myNSFAS account
- After that, you click the Apply tab
- Update all your NSFAS online Application 2024-2025 information.
- Upload your supporting documents
- Submit your application by clicking on the “SUBMIT” button
NSFAS Payment Dates 2024 TVET College NCV | Allowance Payments Dates for NSFAS Students – 2024
First Semester
- Cycle 1 – All Campuses, Monday 28 February 2024
- Cycle 2 – All Campuses, Monday 7 March 2024
- Cycle 3 – All Campuses, Monday 4 April 2024
- Cycle 4 – All Campuses, Monday 3 May 2024
- Cycle 5 – All Campuses, Monday 6 June 2024
Second Semester
- Cycle 6 – All Campuses, Monday 18 July 2024
- Cycle 7 – All Campuses, Monday 1 August 2024
- Cycle 8 – All Campuses, Monday 5 September 2024
- Cycle 9 – All Campuses, Monday 3 October 2024
- Cycle 10 – All Campuses, Monday 7 November 2024
How much is NSFAS 2024 allowance?
The amount differs slightly between college and university; let’s take a look.
TVET College Allowances:
- Accommodation in an urban area is R24 000 per year or R2 400 per month
- Accommodation in a peri-urban area is R18 900 per year or R1 892 per month.
- Accommodation in a rural area is R15 750 per year or R1 575 per month.
- R7,350 per year or R735 per month for transportation (up to 40 kilometers from the institution).
- Transport: R7000 per year or R700 per month.
- Personal care allowance: R2 900 per year or R290 per month.
University Allowances:
- Accommodation: As per the actual costs charged by the university (costs for private accommodation must not exceed costs for university residence).
- Transport (up to 40 km from the institution): R7 500 per year or R750 per month.
- Living allowance: R15 000 per year or R1 500 per month.
- Book allowances: R5 200 per year.
- Personal care allowance: R2900 per year or R290 per month for students in catered residences.
Unisa Allowance:
- Small expense allowance of R2900 per year for students who are registered for ten modules or more.
- Learning material allowance of R600 per module for the first four modules (or once-off R5200 for five to ten modules).
Is NSFAS Allowances Increasing In 2024?
Although there have been some messages going around about the NSFAS increasing the allowances and adding car allowances, these are all fake, and at this stage, the allowances for 2024 will be the same as 2022.
Can NSFAS Pay Some Students More Allowances?
The allowance differs depending on which tertiary institution you attend, as each institution has different registration fees. The distance you travel each day from your accommodation can influence your travel allowance, and your accommodation fees might differ; therefore, student allowances do differ.
How is my accommodation paid?
As long as your landlord is accredited with NSFAS as a partner to offer private accommodation, he will be paid directly, so you won’t have to draw cash to pay your rent. Check if your accommodation is accredited by visiting your university or TVET website.
The institution’s websites list the available accommodation available on campus or nearby that is NSFAS accredited. A landlord that is not accredited can put in an application to become a private accommodation with NSFAS using the online application form.
How does the NSFAS pay the allowances?
Universities
The National Student Financial Aid Scheme (NSFAS) allocates funds to universities annually. The universities then distribute the allowances to all students whose funding has been approved.
Some universities rely on payment administrators such as intellimali to process payments and allocate allowances to eligible students, while others opt to allocate the funds to student bank accounts.
NSFAS Wallet – TVET only
If you are studying at a TVET institution, you will open a wallet with the NSFAS. Don’t forget; you need your own cell phone and a valid SIM card to register.
Once activated, your NSFAS wallet will allow you to withdraw cash or make a purchase by creating a NSFAS voucher and presenting it to any merchant registered by NSFAS. Checkers, Boxer, U-Save, and select Spar stores are the merchants used. Remember, these stores have a daily cash withdrawal limit of R200 – R1000 daily.
NSFAS MasterCard
I know, right feels like they don’t trust you. The Good news is that NSFAS is introducing its new direct payment solution for student allowances through the NSFAS MasterCard. The NSFAS is hoping this will give students greater control over their money.
Not all students will have access to the MasterCard. However, students will be contacted individually and moved onto the platform when it launches at the end of September 2024. Eventually, the MasterCard will replace the NSFAS wallet.
NSFAS MasterCard beneficiaries will get:
- Access to value-added services.
- Value for money-negotiated rates
- Banking freedom
- Make online transactions and purchases
- Perform EFT transactions
- Tap to Pay functionality.
- Plus much more.
With all the NSFAS allowance information at your fingertips, let your journey begin. Remember Nelson Mandela’s wise words “It always seems impossible until it’s done.”
