NSFAS Monthly Allowance 2022/2023

By | February 2, 2022

NSFAS Monthly Allowance 2022/2023

NSFAS Monthly Allowance 2022/2023

If you are reading this right now, you are most likely aware of this helpful NSFAS allowance system, which has been utilised by many since its inception. Folks that qualified for a government bursary are going to be eligible to get funding – student allowance (which is also called study-related expenses).

So, if you are enlisted as a beneficiary, you will be provided with a student allowance monthly. It should be noted that this will usually begin when academic activities resume. Hence, you might have to be patient if your school is still on break. Nevertheless, these allowances are paid in cash. It can come straight up to you via NSFAS Wallet as a student, or your School can pay you directly.

How Much Does NSFAS Give For Allowances?

A lot of people (mostly students) keep wondering how much they will receive for their allowances. Here is something reliable, as it is coming from information made available on the NSFAS website.

NSFAS Allowance Amount

NSFS ALLOWANCE CATEGORY ANNUAL AMOUNT SELF-CATERED/CATERED RES
Study Materials (Once Off) R5,200 R5,200
Accommodation (Max) R5,617 (Private)
Living Allowance R15,000 R1,500
Incidental Allowance R2,900 R290
Travel R7,500 R750 (Home)

 

It was stated that the following allowances are included in the bursary:

University

  • Accommodation: 

Asides from tuition fees, every student needs a conducive place to stay during their journey of study. This has been covered in the allowance system, but there’s no fixed amount, due to obvious factors. But you should note that it is the exact cost the university charges, nothing more, nothing less.

It should also be noted that if it’s a private school, the cost must not exceed costs for university residence.

  • Transport:

Movement is critical, and no student will stay at the same place. This is then covered in the allowance system. Students will get R7 500 per year to cover these expenses. It should be noted that it is up to 40 km from the School.

  • Living allowance

One has to spend money to live on earth. It will take money to get important things like food too. Hence, this was properly considered in the allowance system. Beneficiaries will get R15 000 per year

  • Book allowance

Students can’t but make use of books, as a prominent responsibility of theirs is to study books. Hence, beneficiaries will get R5200 per year under the allowance system, but it only applies to universities.

  • Personal Care allowance

Also important is this aspect, which has been well taken care of in the allowance System. Beneficiaries will get R2900 per year as personal care allowance.

 

TVET 

Perhaps you are a student in a TVET college. Then this is for you. Let’s see the amount you will get as an NSFAS allowance.

  • Accommodation:

Your accommodation is crucial. Unlike University students, the amount here had been fixed, and you already know what you will get depending on the area you stay in.

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If you reside in an urban area, you will get R24 000 per year from NSFAS allowance. Those that stay in the peri-urban area will be given R18 900 per year under the allowance system. Additionally, those staying in a rural area are entitled to R15 750 per year as beneficiaries, for their accommodation allowance.

  • Transport: 

Beneficiaries in this category are getting R7 350 (up to 40 km from the School) via NSFAS allowance, to help their cost in moving from one place to another.

  • Personal Care allowance: 

This was really recently introduced to assist students in paying for toiletries, which is so thoughtful of the administrators. You will get R2 900 per year to take care of these responsibilities.

It must be noted that students are funded according to their specific university needs as well as expenses. It should also be stated that allowances (both for University and TVET) are subject to yearly increases determined by the Consumer Price Index (CPI).

 

Going to a college or university can be so tasking. Not just in terms of the mental investments and efforts that zap lots of energy from you every now and then, but also as one doesn’t have any other choice but to deal with monthly expenses. Hence, NSFAS has put in place systems to provide students with monthly allowances to help with those costs.

National Student Financial Aid Scheme is a public entity governed by the NSFAS Act. Since its inception, students in different places in the country have been able to apply for a loan or bursary, and it has been really helpful.

Irrespective of how young a person is, as far as they are in the University of TVET college, such won’t simply think about tuition fees, but will also be concerned with several important expenses. Talk about food, buying books, toiletries, and so on. It is therefore a relief when one is aware that one can get some cash to take care of these extra costs via NSFAS.

If you need more information about NSFAS or anything else that concerns this discourse, you can always visit their website and get as much clarity as possible.

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