The bursary scheme’s projected budget for the 2023 academic year is around R47.6 billion, providing funding to an estimated 900,000 students.
Government is aiming to increase the number of students receiving National Student Financial Aid Scheme (Nsfas) funding to 1 million.
At a press briefing on Tuesday, Higher Education Minister Dr Blade Nzimande announced that all allowances granted by the National Student Financial Aid Scheme would be increased by 5%.
Nzimande also confirmed that living allowances would be increasing by 10% from last year and have been adjusted to inflation within the budget allocated to Nsfas.
“Let me indicate that our living allowance increment across the board will be R1,650 per month, which is a 10% increment as compared to the 2022 figure. This increase is above inflation, taking into account that for the [past] three years there has been no increase," noted the Minister.
NSFAS-funded students at universities will receive the following allowances:
- Students in university accommodation with catering will receive a R5,460 learning materials allowance and an accommodation allowance capped at R61,500.
- Students in self-catering university accommodation will receive a learning materials allowance to the value of R5,460 and a R16,500 living allowance per annum, with an accommodation allowance capped at R45,000.
- Students living with relatives (not in private accommodation) will receive a learning materials allowance of R5,460 as well as a R16,500 living allowance per annum.
- Students in private off-campus accredited accommodation will receive a learning materials allowance of R5,460, a R16,500 living allowance per annum and an accommodation allowance capped at R45,000.
As of the 2023 academic year, students at distance universities who are studying less than 60 course credits towards their qualification, qualify for the learning materials allowances only.
Additionally, distance university students studying an equivalent full-time course credit load qualify for the personal care allowance of R3,045 per academic year. This requires a student to be registered for a minimum of 120 course credits in one academic year.
Furthermore, Nsfas-funded TVET college students will for the first time also receive a living allowance of R6,000. These students will also receive an accommodation allowance of just over R54,000 per annum.
Applications for the 2023 funding cycle closed on Tuesday, 31 January 2023.
Students with unsuccessful Nsfas applications have a window to appeal against this decision by submitting relevant supporting documents between 20 January and 20 February 2023.
