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How Much NSFAS Allowances for University Students in 2024

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How Much NSFAS Allowances for University Students in 2024

How Much NSFAS Allowances for University Students in 2024. The Minister of Higher Education, Blade Nzimande, recently unveiled crucial information regarding the 2024 National Student Financial Aid Scheme (NSFAS) allowances. This announcement brings forth important details about the allowances provided to university students, encompassing living expenses, accommodation, travel, and learning materials.

How Much NSFAS Allowances for University Students in 2024

  1. Living Allowance: In the upcoming academic year, students can anticipate a living allowance of R16,500 per annum. This comprises a personal care allowance of R3,045 and a meal allowance of R13,455.
  2. Accommodation Allowance: For those in need of accommodation, allowances will vary. In metro areas, institution-owned or leased accommodation and private accommodation allowances are capped at R50,000 per year. Meanwhile, in non-metro areas, this cap is set at R41,000 per annum. Institutions providing catered accommodation will have their allowances capped at R66,500 in metro areas and R57,500 in non-metro areas.
  3. Travel Allowance: Students making their own accommodation arrangements or residing with relatives will not qualify for accommodation allowances. Instead, they can apply for a travel allowance, with a maximum limit of R7,875 per annum.
  4. Learning Material Allowance: All university students are eligible for a learning material allowance, amounting to a maximum of R5,460. This one-time payment at the beginning of the academic year is intended for the purchase of books and devices.

NSFAS Allowances for Distance Learning Students

For students engaged in distance learning, such as those at Unisa, allowances are determined by the number of modules registered, with a maximum limit of R5,460.

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Special Considerations for Students with Disabilities

Students living with disabilities receive an assistive device allowance of R50,000 as a one-time payment. Additionally, NSFAS funds repairs and maintenance up to R2,000 per year. Approval for these allowances is contingent on meeting specific criteria outlined in the policy standard.

Disbursement Dates for 2024 NSFAS Allowances

Nzimande disclosed that universities and TVET Colleges will receive upfront payments of R4.2 billion on January 31, covering registration and initial payments. Of this amount, R1 billion is allocated to TVET Colleges, while the remaining R3.2 billion is designated for universities. Monthly NSFAS allowance payments will commence at the end of each month in January, with bi-weekly payments scheduled for February and March.

Conclusion

Understanding the intricacies of the 2024 NSFAS allowances is vital for university students to plan their academic journey effectively. Whether it’s accommodation, travel, or learning materials, these allowances aim to alleviate financial burdens, enabling students to focus on their education.

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