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Nsfas To Cap Student Accommodation Funding

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If Applicants for the NSFAS bursary scheme or current recipients may be interested in the following proposed policy changes that have been made by the bursary scheme.

To National Student Financial Aid Scheme (NSFAS) is proposing to change how bursaries are distributed to make them more accessible to qualified applicants.

A cap of R45 000 has been proposed on the accommodation allowance for NSFAS students regardless of whether they reside in university accommodation or accredited private accommodation.

Nsfas To Cap Student Accommodation Funding

In addition, NSFAS plans to negotiate leases on behalf of students, accredit student housing (without involving universities as is traditional), and pay landlords directly. Through the NSFAS bank card, students will receive their monthly allowances through the bursary scheme. 

Once signed in, accommodation providers can list their properties by providing their property names, locations, and images. To ensure that the properties are suitable for student living, NSFAS will contact them and send a panel of experts.

An Urban students will receive an allowance of R24,000 per year. Peri-urban students receive an annual housing allowance of R18,900, while rural students receive an annual housing allowance of R15,750.

Student accommodation providers can also be considered for NSFAS-funded students through the student accommodation portal.

Using the portal, students can also file maintenance requests and relocation requests related to the housing they have been assigned. This process will apply to both privately owned and institutionally owned housing.

According to the bursary scheme, the following university academic eligibility requirements will be implemented in 2023:

  • In order to receive funding from NSFAS, first-time students must earn 50% of their registered course credits. 
  • In order to continue to receive funding from NSFAS for the next academic year, continuing and returning students must achieve 55% of their registered course credits

Finally, the financial assistance agency suggested direct payments to recipients to prevent the ongoing issue of late payments made by institutions, which frequently caused students to be unsatisfied.

 

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