The National Student Financial Aid Scheme will receive R47.6 billion to fund around 900,000 students in 2023. Funded students will also receive an increase in their allowances for the upcoming academic year.
A budget allocation of R38.6 billion was made for Universities and R8.9 billion for Technical and Vocational Education and Training (TVET) colleges.
Nsfas held a briefing on Tuesday, 31 January 2023 to inform the nation and students around the country regarding the scheme's state of readiness for 2023 academic year.
Minister of Higher Education, Science and Innovation, Blade Nzimande says that the budget of R47.6 billion received by Nsfas makes provision for a 7% increase in the amount of students benefiting from Nsfas.
The minister delivered the opening statement of the briefing and highlighted increases to various allowances received by funded students. This included a 10% increment to the living allowance received by students.
The minister announced an across the board increases of allowances, including the living allowance. They add that the increases to allowances came about after intense consultations with various stakeholders in the higher education sector.
New Nsfas University Allowances (per annum)
Students will receive a:
- R5,460 learning material allowance
- R16,500 living allowance
- R61,500 Accommodation (University providing accommodation and catering )
- R45,000 Accommodation (University providing accommodation with self catering)
Students living off campus with relatives will receive R5,460 learning material allowance and R16,500 living allowance per annum.
Students living off campus in accredited accommodation will receive R5,460 learning material allowance and R16,500 living allowance per annum. Their accommodation allowance is capped at R45,000
New Nsfas Allowances For TVET college
TVET students living in TVET college owned catered residence will receive a R54,000 accommodation allowance per annum.
TVET students living in TVET college owned self-catered residence will receive R45,000 accommodation allowance, a living allowance R6,000 per annum and a personal care allowance of R3,045.
TVET students living in private accommodation will receive a living allowance R6,000, a personal care allowance of R3045 and a R45,500 accommodation allowance
TVET students more than 10 Kilometres (KM) away from campus will receive a living allowance R6,000, a personal care allowance of R3,045 and a Transport allowance of R7,780.
Nzimande said the introduction of a living allowance for TVET college students indicates government's commitment to supporting students. This as the R6,000 living allowance will be paid for the first time in 2023.
They added that the lowering of the distance threshold for TVET college students to receive a transport allowance from 40 KM to 10KM represents a significant change.
