NSFAS is a government financial aid scheme that helps out many South African students from disadvantaged backgrounds by sponsoring their tertiary education.
It is important for you to understand how much NSFAS pays per month when budgeting and planning your studies.
How Much Does NSFAS Pay Per Month?
It’s important to understand that NSFAS doesn’t provide a fixed monthly amount.
The funding you receive is distributed annually across ten months, normally in line with the academic year.
The total amount you receive depends on several factors, including:
- Your study institution (university or TVET college)
- Your living situation (on-campus residence, private accommodation, or living with parents)
- Your location (urban, peri-urban, or rural area)
- Whether you qualify for a transport allowance
Does NSFAS Pay Monthly?
No, NSFAS disbursements are not strictly monthly. Payments are released during the first week of each month over a ten-month period.
There may be variations depending on your institution’s specific disbursement schedule.
That is why it is advisable that you consult your institution’s financial aid office for the exact dates you can expect to receive your NSFAS allowance.
How Much Does NSFAS Pay for Private Accommodation?
If you choose to live in private accommodation, NSFAS will contribute towards your housing costs, but there are limitations.
The allowance will not exceed the cost of on-campus residence fees.
Additionally, NSFAS or your institution will determine the maximum amount payable for private accommodation that lacks certain services (like meals).
How Much is the NSFAS Payment for 2024?
NSFAS funding is subject to annual revisions based on government allocations.
While the specific figures for 2024 haven’t been officially announced yet, you can use the 2023 figures as a general guideline:
University Students:
- Living Allowance: R15,000 per year (roughly R1,500 per month)
- Book Allowance: R5,200 per year
- Incidental Allowance (catered residences): R2,900 per year
- Transport Allowance (up to 40km): R7,500 per year
TVET College Students:
- Accommodation Allowance (refer to details above)
- Transport Allowance (up to 40km): R7,350 per year
- Book Allowance: R5,200 per year
- Incidental Allowance: R2,900 per year
Does NSFAS Give You a Laptop?
NSFAS is putting measures in place to provide laptops to needy students in this year 2024.
We recommend that you check with your institution’s financial aid office to see when your college or institution is to be visited.
Does NSFAS Pay Cash?
No, NSFAS funding is not distributed in cash. The allowances are electronically deposited into your NSFAS wallet or your student account at your registered institution.
These funds are then used to pay for approved expenses, such as tuition fees, accommodation, and book allowances.
This system helps ensure that the funding is used for educational purposes.