Minister of Higher Education, Science and Innovation, Blade Nzimande says the government has set aside R47 billion to fund an estimated 900 000 NSFAS beneficiaries this academic year.
This represents a 7% increase in the number of students eligible for NSFAS bursaries over the fiscal year 2022.
The Minister says out of these qualifying students, over 60% of undergraduate students in our public university system receive support. Over 90% of students in TVET colleges also benefit from bursaries.
“The figures provided above illustrate just how important the financial aid provisions from the State distributed through NSFAS have been over the years,” Nzimande elaborates by dividing the 2023 student allowances for university and TVET students as follows:
University students’ allowances
· University managed and catered students will receive a R5,460 learning materials allowance and an accommodation allowance capped at R61,500. These are instances where the universities provide 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.
· 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.
TVET students allowances
· TVET College own catered residence will only receive an accommodation allowance to the value of R54,045 per annum
· TVET College managed own 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 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.