During 2022 the National Student Financial Student Aid Scheme (NSFAS) received a budget allocation that amounts to R49 billion for the 2022/23 financial year.
The allocation, according to Dr Blade Nzimande, confirms the government's commitment to providing financial aid to students from low-income and working-class backgrounds,
While also putting in place a sustainable mechanism to support students from the so-called "missing middle" and postgraduate students.
The amount totals R221 million and is divided among the National Research Foundation (NRF), R527 million to the National Student Financial Aid Scheme (NSFAS), R80 million to the Department of Agriculture, Land Reform and Rural Development (DALRRD), and the DHET Internal Scholarship and R37.9 million to the DHET Internal Scholarship
However, despite this, recent media reports revealed that over 50,000 people, many of whom are university students, signed a petition urging the bursary scheme to raise their monthly allowances.
Because the price of basic necessities like food and toiletries are rising, they want the existing allocation of R1,500 to be raised to R2,000.
In response, Nzimande clarified that the current model made use of the inflation projections provided in the 2022–2023 MTEF Guidelines distributed by the National Treasury.
The minister further stated that as a result of this, the shortfall for 2022–23 was addressed in the 2022–23 budget vote, with reprioritization occurring across the government and an additional sum needed from the Department's budget.
The Medium Term Expenditure Framework (MTEF) estimates that NSFAS will receive R37 151 442 for baseline university allocations and R1 207 665 for reprioritization of universities for the 2022–23 academic year, bringing the university sub-total to R 38 359 107.
Depending on the resources available and the projected expenditures for 2023, according to Nzimande, the question of whether allowances can be changed and raised is being discussed.
