The National Student Financial Aid Scheme (Nsfas) application period for the 2023 academic year is open. Students attending public universities and Technical and Vocational Education and Training (TVET) can apply for funding from the scheme.
Nsfas aims to ensure that students from poor and working-class backgrounds can attend public tertiary education institutions in South Africa. However, the fund has a household income threshold which students may not exceed to receive a Nsfas bursary.
Here Is The Nsfas Household Income Threshold
The household income threshold for able-bodied students is R350,000. Students with disabilities may have a combined household income not exceeding R600,000.
Students who began studying before 2018 are allowed to have combined household income of R122,000 or less.
A Higher Education Ministerial Task Team has recommended that the household income threshold should be adjusted annually. This is due to the rising cost of living in South Africa and current levels of inflation.
The Minister of Higher Education and Training, Blade Nzimande, believes this government has to move with the times to minimise the impact of the current economic climate. This would be achieved by adjusting the household income threshold annually.
Nzimande explained that the high cost of living means directly increases the demand for Nsfas funding. However, he conceded that the government budget is under severe
constraints.
The current household income of R350,000 for able-bodied students has not been adjusted since 2018.
A Nsfas bursary will cover a student's entire tuition fees. Beneficiaries of the bursary will also receive allowances which ensure their basic needs are met while they are studying at university.
This includes paid accommodation, a transport allowance, a living allowance, a textbook allowance and a personal care allowance.
Nsfas does not fund students completing post-graduate courses. This includes postgraduate certificates, postgraduate diplomas, honours degrees, masters and PhD degrees.