How much is nsfas allowance for 2024 per month?
Question: How much is nsfas allowance for 2024 per month?
If you are a student in South Africa who is looking for financial assistance to pursue your studies, you may have heard of the National Student Financial Aid Scheme (NSFAS). NSFAS is a government-funded program that provides loans and bursaries to eligible students who are enrolled at public universities and TVET colleges.
One of the benefits of NSFAS is that it covers not only tuition fees, but also living expenses, such as accommodation, transport, food, books and personal care. These are paid as a monthly allowance to the students' bank accounts or through vouchers.
But how much is the NSFAS allowance for 2024 per month? According to the latest announcement by the Minister of Higher Education, Science and Innovation, Dr Blade Nzimande, the NSFAS allowance for 2024 will be increased by 4.7%, which is in line with the inflation rate. This means that:
- The accommodation allowance for university students will be R24,000 per year, or R2,400 per month.
- The transport allowance for university students who do not receive accommodation will be R10,800 per year, or R1,080 per month.
- The living allowance for university students will be R15,600 per year, or R1,560 per month.
- The book allowance for university students will be R5,200 per year, or R520 per month.
- The incidental/personal care allowance for university students who live in catered residences will be R2,900 per year, or R290 per month.
- The accommodation allowance for TVET college students will be R18,000 per year, or R1,800 per month.
- The transport allowance for TVET college students who do not receive accommodation will be R7,350 per year, or R735 per month.
- The living allowance for TVET college students will be R14,400 per year, or R1,440 per month.
These amounts are subject to change depending on the availability of funds and the number of students who apply and qualify for NSFAS. To apply for NSFAS, you need to meet the following criteria:
- You are a South African citizen or a permanent resident with a valid ID number.
- You are registered or intend to register at a public university or TVET college for an undergraduate qualification in 2024.
- You come from a household with a combined annual income of not more than R350,000.
- You have not received NSFAS funding before or you have completed your previous qualification funded by NSFAS.
To apply for NSFAS online, you need to create a myNSFAS account on the NSFAS website (www.nsfas.org.za) and submit your application with the required supporting documents. The application cycle for 2024 will open in September 2023 and close in November 2023. You will receive an SMS or email notification once your application status is updated.
NSFAS is a great opportunity for students who need financial support to access higher education and achieve their academic goals. If you are eligible and interested, do not miss the chance to apply for NSFAS and receive your monthly allowance in 2024.
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