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The National Student Financial Aid Scheme (NSFAS) is a scheme founded and run by the government of South Africa under the Department of Higher Education and Training (DHET). NSFAS allowance is given to deserving youthful citizens to pursue higher learning in TVET colleges and public universities.
NSFAS allowance has assisted numerous people from low-income households to pursue higher education. NSFAS was established in 1999, and the financial support offered usually caters to daily living expenses, accommodation, learning materials needed, and transport.
NSFAS allowance is not issued to every student pursuing higher education. The scheme offers assistance to students from needy backgrounds. All beneficiaries must apply to get support.
NSFAS works by sending financial assistance to bright students to pursue higher studies after completing high school. These students must come from needy backgrounds, i.e., households earning a combined income of R350,000 or less per year.
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Eligible students must apply for funding before getting it. The support is issued to students pursuing courses in TVET colleges and public universities. Only a few post-graduate degrees are supported in this government-sponsored scheme.
Orphaned and vulnerable children (OVC) from households receiving assistance from the South African Social Security Agency (SASSA) are eligible for NSFAS financing for higher studies.
There are set NSFAS requirements that guide who is eligible for financial aid. The following categories of people qualify for funding.
The essentials covered by NSFAS are listed below. The amount issued caters to basic life and education needs when a student is in school.
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The latest DHET guidelines indicate that financial support should cover the following necessities.
The financial aid offered to students in TVET institutions covers the following necessities.
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NB: Abled-differently students are eligible for additional financial support for acquiring special equipment, human support, and medical assessments.
The amounts indicated above follow the guidelines of the Department of Higher Education and Training (DHET). This means that all institutions follow similar guidelines, i.e., the UNISA NSFAS allowance is the same as all other universities.
NSFAS allowances are paid over a period of 10 months. The NSFAS payment schedule is the first week of each month.
If you wish to benefit from the NSFAS funding, you must meet the eligibility criteria and apply. New applicants should apply through the official NSFAS site.
Continuous students can apply via the site or their institution. Note that you will be required to pay your registration fee while your application is being evaluated.
The following documents are required when applying for funding.
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If you need to contact NSFAS for more information, use the contact details below.
NSFAS pays accommodation costs as per the costs charged by your university. If a university student opts for private accommodation, the amount must not exceed the cost of the university residence.
On the other hand, it pays R24,000 per year for TVET students living in a town or other urban area, R18,900 per annum for those in peri-urban areas, or R15,750 per year for those in rural areas.
NSFAS will disburse funds within the first week of each month. Allowances are paid for ten months a year.
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NSFAS only provides financial assistance to eligible students who have applied and have been accepted at public universities and TVET colleges for approved funded programmes.
No, NSFAS funds you for the duration of your studies. You do not need to apply every semester or year.
NSFAS allowance has allowed thousands of people to access higher education in South Africa. Persons who meet the qualification criteria should apply for funding to make their education dreams come true.
READ ALSO: How to unlock an NSFAS account: Here is everything you need to know
Briefly.co.za recently published how to unlock an NSFAS account. It is not unusual to get locked out of your NSFAS account for different reasons.
One of the biggest reasons for account locking is entering an incorrect wallet password more than three times. This activates a lock security feature that protects beneficiaries from fraudulent or unauthorised access to their accounts.
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Source: Briefly News
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