nsfas allowance payment dates 2023-2024

nsfas allowance payment dates 2023-2024

nsfas allowance payment dates

nsfas allowance payment dates

The National Student Financial Aid Scheme Act (Act 56 of 1999) created NSFAS, which included TEFSA (Tertiary Education Fund of South Africa). TEFSA was the major non-profit business in terms of Section 21 of the Companies Act from 1993 to 2000, and it terminated operations in July 2000. On TEFSA’s records, all existing loans were transferred to NSFAS.

The National Student Financial Aid Scheme (NSFAS) was created by the National Student Financial Aid Scheme (NSFAS) (Act 56 of 1999).

The mission statement consists of three parts that explain why NSFAS exists and how it benefits the constituency:

  • NSFAS exists to provide financial aid to eligible students at TVET colleges and public universities;
  • NSFAS identifies eligible students, provides bursaries and collects past student loan repayments to replenish the funds available for future generations of students; and,
  • NSFAS supports access to, and success in, higher education and training for students from poor and working-class families who would otherwise not be able to afford to study

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How long does it take for Nsfas allowance payment?

NSFAS allowances will be paid during the first week of each month over a period of 10 months.

How much does Nsfas give to TVET college students?

You might wonder which NSFAS allowances are given to students from TVET College and what else NSFAS covers. Here’s your answer. All students funded by NSFAS get a personal allowance which is R2 900 per year.

Students are eligible for the following allowances from NSFAS:

Personal Care Allowance

Every NSFAS-funded student receives a personal allowance of R2 900 per year.

• Transport Allowance

If you live fewer than 40 kilometers from the College, you are eligible for a R7 350 per year transport allowance.

• Accommodation Allowance

  1. For students who live in private housing more than 40 kilometers from the College, R15 750 a year is paid to students who live in rural areas.
  2. Students in peri-urban areas are given R18,900 per year.
  3. Students in urban areas are entitled to R25 200 every year.
  4. Students who live in the College’s dormitory accommodation are entitled to an R33 000 annual accommodation allowance.

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.

 Required documents

The following are the required documents:

  • Copy of ID
  • Proof of household income
  • Parents IDs (for dependent applicants)
  • Academic record

For all other student-related questions, please contact:

Tel No.: 08000 67327
Email: info@nsfas.org.za

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