How Much Will NSFAS Give Students In 2024-2025?
How Much Will NSFAS Give Students In 2024-2025?
The amount of financial aid that NSFAS offers to students is determined by a means test, which takes into account their family income, academic performance, and other variables. The funding amounts provided by NSFAS differ depending on the level of study, the institution, and the specific program that a student is enrolled in.
According to the South African Reserve Bank, inflation is predicted to increase by an average of 4.4% in 2022 and 4.5% in 2023. This means that the cost of living and the cost of education is likely to increase over the next few years. Therefore, it is reasonable to expect that the funding provided by NSFAS will also increase to keep up with these rising costs. How Much Will NSFAS Give Students In 2024-2025?
In the past, the funding offered by NSFAS has been subject to change based on the availability of funds and the needs of students. For the 2021 academic year, NSFAS covered tuition and accommodation fees up to a maximum of R122,000 per year for university students, while TVET college students received a maximum of R88,000 per year. In addition to covering tuition and accommodation fees, NSFAS also provides students with allowances for books, food, and other related expenses.
READ ALSO: How To Apply For NSFAS 2024 Online Application
Who Qualify To Receive NSFAS Funding
To qualify for bursaries, applicants must adhere to four fundamental standards;
- every South African national
- All winners of SASSA grants are eligible for funding
- applicants whose annual household combined income does not exceed R350 000
- A disabled person: The total annual household income cannot exceed R600,000.
- students who started their studies before 2024 and whose household income is not higher than R122 000 annually
NSFAS Monthly Allowance In 2024/2025
The following monthly payments can be expected:
- Educational Resources (Books): R433
- Living Expenses: R1250
- Incidental Provisions: R241
- Travel Costs: R625
- Accommodation: Value is dependent on each student
How Much Will NSFAS Give Students In 2024-2025?
Things Financed By NSFAS
If your application is accepted, the National Student Financial Aid Scheme will help with these study-related costs.
- Accommodation
- Transport
- Living stipend
- a budget for books
- Allowance for incidentals or personal care
But if you’re a student at the University of South Africa (UNISA), NSFAS will cover the cost of the below-listed educational packages.
- Tuition
- a budget for books (subject to the number of modules you register)
- Allowance for personal care
READ ALSO: NSFAS Application Online 2024-2025
How Much Will NSFAS Give Students In 2024-2025?
The amount of financial aid that NSFAS will provide to students in the 2024-2025 academic year has not been announced yet. The funding provided by NSFAS changes depending on the student’s circumstances, the level of study, and the institution they are enrolled in. Students are advised to stay informed about updates from NSFAS to ensure that they have the most accurate details about the funding available to them.
The process to Apply Online for NSFAS
The detailed steps listed below should be followed in order to submit an NSFAS application.
- the website www.nsfas.org.za
- Register for a MyNSFAS account.
- After selecting the Apply tab, enter the necessary details in the space provided.
- Upload the essential files as needed.
- To email your NSFAS application, click Submit.
On January 1, 2024, the NSFAS online application for the subsequent academic year will become active. Only on the NSFAS application opening date are applicants able to see and submit award applications.
NSFAS Contact
For general, student and NSFAS Wallet inquiries
For all other queries regarding students:
Tel No.: 08000 67327
Email: info@nsfas.org.za
Physical Address
The Halyard, 4 Christiaan Barnard St, Cape Town City Centre, Cape Town, 8001
Read more on Nsfas HERE
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