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Nzimande Approves NSFAS Eligibility Requirements

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Nzimande Approves NSFAS Eligibility Requirements

Nzimande Approves NSFAS Eligibility Requirements. Higher Education, Science, and Innovation Minister, Dr. Blade Nzimande, has greenlit the updated eligibility criteria and conditions for the 2024 National Student Financial Aid Scheme (NSFAS). These changes, outlined in adherence to the NSFAS Act, aim to streamline the allocation of funds and ensure equitable access to financial aid for eligible students across public universities and Technical and Vocational Education and Training (TVET) colleges.

NSFAS Eligibility Requirements Changes for 2024

  1. Accommodation Caps: Adjustments have been made to accommodation caps for both university and TVET college students, considering differences in bursary packages.
  2. Living Allowance: The living allowance for 2024 has been set at R10,000 for TVETs and R16,500 for universities per annum, distributed monthly.
  3. Closing the Gap: These adjustments aim to bridge the gap between TVET college and university students progressively.
  4. Policy Conditions: Students changing institution types must re-apply for funding, and those who de-register or drop out must re-apply upon resuming studies. Compliance with academic progression criteria is essential for continued funding.

NSFAS Eligibility Requirements

  1. University Students: Academic progression criteria require a minimum credit pass rate of 50% for continuing and First Time Entering Students (FTEN) in 2024, rising to 60% for the 2025 funding year.
  2. TVET Students: Criteria for bursary awards are based on subject passes at different levels, ensuring progression in NC (V) and Report 191 programs.

Support for Students with Disabilities

Provisions have been made to accommodate students with disabilities, including support from carers ratified by NSFAS.

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NSFAS Responsibilities

The 2024 policy mandates NSFAS to comply with National Treasury and PFMA requirements, ensuring transparency and accountability in funding decisions and disbursements.

Conclusion

Dr. Blade Nzimande approval of the revised NSFAS eligibility criteria for 2024 underscores the commitment to providing accessible and equitable financial aid to eligible students. These changes reflect a nuanced understanding of the diverse needs within the higher education landscape and aim to foster academic success and inclusivity. By aligning with national regulations and addressing specific challenges faced by students, NSFAS continues to play a pivotal role in shaping the future of South Africa’s education system.

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