NSFAS Increases Allowance For 2023
NSFAS Allocates Billions To Pay Student Allowances In Early 2023 , this year the National Student Financial Aid Scheme (NSFAS) board approved draft guidelines to be submitted to the Minister of Higher Education, Science and Innovation Blade Nzimande for approval. These draft guidelines, if approved, will impact students and how the bursary funds are managed.
NSFAS has said the increases would only be a 5% increase in student allowances and a 7% increase in accommodation allowances.
The Increase To NSFAS Allowances For 2023 was Announced by the department .
An inflation linked increase of 5% on allowances has been effected for our universities and TVET colleges on student allowances, with the accommodation allowance increased by 7% and capped at R45 000 per student per annum.
Media briefing about the department’s readiness for the 2023 academic year, Higher education and training Minister, Dr Blade Nzimande announced that his department and the National Student Financial Aid Scheme (NSFAS) has agreed to significantly increase the allowances for Technical and Vocational Education and Training (TVET) college students.
For the first time, TVET College students will get a living stipend of R6000 annually (distributed monthly) starting with the 2023 academic year.
Minister stated that the following adjustments and refinements to the qualifying criteria have been approved with regard to the 2023 NSFAS eligibility criteria and conditions for financial aid:
- TVET college students studying occupational programmes can only be funded for the cost of tuition for the duration of the qualification.
- TVET college students who are registered on an occupational qualification may qualify for allowances only if in simulated training. It must, however, be noted that students registered on an occupational qualification that has an employment contract do not qualify for NSFAS allowances.
- TVET college graduates will be funded for a university undergraduate qualification regardless of the benefit that they would have derived from the application of the N+ rule at a TVET college level (On condition they did not exceed the TVET N+ Rule).
He also mentioned that NSFAS will also be removing the 40km distance control for TVET college students and replacing it with a more equitable 10km radius.
“NSFAS will also administer allowances for TVET College students with Disability similar to universities and the DHET Disability Grant for TVET Colleges will also be redirected to NSFAS,” continued the Minister.