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Minister Nzimande Discloses 2024 NSFAS Allowances for University Students

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Minister Nzimande Discloses 2024 NSFAS Allowances for University Students

Minister Nzimande Discloses 2024 NSFAS Allowances for University Students. The Minister of Higher Education, Blade Nzimande, recently unveiled the anticipated adjustments to NSFAS allowances for the academic year 2024, signaling an increase in financial support for eligible students.

NSFAS Allowances Overview

As an integral component of the National Student Financial Aid Scheme (NSFAS), the allowances extend beyond tuition fees to encompass crucial aspects such as meals, accommodation, transport, and learning materials.

2024 NSFAS Allowances Breakdown for University Students

Living Allowance

  • Annual allowance: R16,500
  • Composition: R3,045 personal care allowance + R13,455 meal allowance

Accommodation Allowance

  • Cap for institution-owned or leased accommodation and private accommodation in metro areas: R50,000 per annum
  • Cap for accommodation in other areas: R41,000 per annum
  • Institution-catered accommodation caps: R66,500 in metro areas and R57,500 in other areas per annum
  • Exceptional circumstances: Institutions in non-metro areas may request NSFAS to review these caps.

Travel Allowance

  • Maximum: R7,875 per annum
  • Eligibility: Students making their own accommodation arrangements or residing with relatives

Learning Material Allowance

  • All university students eligible
  • Maximum: R5,460 (once-off payment at the beginning of the academic year for books and devices)

NSFAS Allowances for Distance Learning Students

  • Dependent on the number of registered modules, with a maximum of R5,460

Students with Disabilities Allowances

Assistive Device Allowance

  • Once-off payment: R50,000
  • Annual funding for repairs and maintenance: R2,000

Note: Approval of these allowances is contingent upon meeting specified criteria outlined in the policy standard.

Payment Schedule for 2024 NSFAS Allowances

Minister Nzimande disclosed that an upfront payment of R4.2 billion will be disbursed to universities and TVET Colleges on January 31, covering both registration fees and initial payments.

  • R1 billion allocated to TVET Colleges
  • Remaining R3.2 billion allocated to universities

For January, NSFAS allowance payments will be disbursed monthly, transitioning to bi-weekly payments for February and March, facilitating a more streamlined financial support system for students.

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