Nzimande Announces Increased NSFAS Funding For 2022

The National Student Financial Aid Scheme (NSFAS) will be operating with a bigger budget as the fund tries to cope with larger volumes of students who require funding.
Department of Higher Education and Training Minister, Dr Blade Nzimande announced that NSFAS’s budget increased from R20 billion in 2018 to more than double at R44 billion in 2020. This is an increase of 107%.
He says that the Covid-19 pandemic has seen the number of students who require financial assistance rise. He praised the new board for their efforts to ensure that students who require funding are not disadvantaged when it comes to attending university.
He said, “As the government, it is our duty to make sure that all those with potential are not prohibited by the lack of funds and we are proud of what this new board has delivered.
For the 2020 academic year, NSFAS funded 751 858 students. Of these students who were supported by the fund, 489 912 attended universities while 261 404 attended TVET colleges. Around 470 696 of these students are females, this represents a 30% increase from 2018 when just 360 344 were females.
Minister Nzimande has noted his concern around the decline in the number of students with disabilities at universities in South Africa. In 2019 there were 1 921 students with disabilities compared to 1 421 in 2020. This represents a 26% decrease.
Students with disabilities qualify for NSFAS funding if their combined household income is less than R600 000 per annum. NSFAS provided access to wheelchairs, hearing aids, adapted laptops and human support.
Nzimande said that students funded by NSFAS, on average, achieved better results than students who were not. He said this is a testament to how government funding and interventions can have a positive impact on students.
NSFAS announced that applications for funding for the 2022 academic year will open on 2 November 2021.