NSFAS R20 million

Department of Higher Education and Training Minister Blade Nzimande. Images via Pixabay and Flickr

CONFIRMED: Here are the NSFAS allowances for 2023

In 2023, students funded by the NSFAS will get R1650 monthly allowance. Other allowances have been increased too, find out more here..

NSFAS R20 million

Department of Higher Education and Training Minister Blade Nzimande. Images via Pixabay and Flickr

University students funded by the National Financial Aid Scheme (NSFAS) will now get a monthly living allowance of R1650 in 2023!

This was revealed by Higher Education Minister, Dr Blade Nzimande on Tuesday, 31 January.

NSFAS STUDENT ALLOWANCES FOR 2023

During the briefing, Nzimande revealed that in the current financial year, the financial aid scheme is projecting a 7% increase in the number of  students qualifying for NSFAS bursaries as compared to the 2022 financial year.

Out of these qualifying students, over 60% of undergraduate students in public university system receive support from NSFAS and well over 90% of students in TVET colleges.

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University students’ allowances

  • University managed and catered students will receive a R5,460 learning materials allowance and an accommodation allowance capped at R61,500. There are instances where the university provides both accommodation and catering.
  • University managed self-catering students will receive a learning materials allowance to the value of R5,460, R16,500 per annum living allowance and accommodation allowance capped at R45,000.

“Let me indicate that our living allowance increment across the board will be R1650 per month, which is 10% increment as compared to the 2022 figure. This increase is above inflation taking into account that for the three years there has been no increase,”Nzimande said.

  • Living with relatives (not in private accommodation) students will receive a learning materials allowance of R5,460, and R16,500 per annum living allowance.
  • Private off campus accredited accommodation students will receive a learning materials allowance of R5,460, R16,500 per annum living allowance and an accommodation allowance capped at R45,000.

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TVET students allowances

  • TVET College owned catered residence will only receive an accommodation allowance to the value of R54,045 per annum
  • TVET College managed, owned and leased self-catered accommodation will for the first time receive a living allowance of R6000, personal care allowance of R3,045 and a maximum R45,000 plus living allowance paid to the TVET College.
  • TVET students in private accommodation will receive a R6000 living allowance, R3,045 personal care allowance and R45,000 per annum accommodation allowance.
  • TVET students residing less than 10 km from the College (this means from 0 km and beyond but up to 9.9 km), will receive a R6000 living allowance, R3,045 personal care allowance and R7,718 travel allowance.

Nzimande said all these allowances are in line with the 2023 NSFAS eligibility criteria and conditions for financial aid already published and shared with institutions (apart from the living allowance increase mentioned above).

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This year payment of allowances will be made directly into the students’ NSFAS bank account and NSFAS funded students are required to complete the NSFAS direct payment onboarding process to prepare for the payment of allowances into their account.