In todays latest NSFAS News – Will NSFAS Pay for December 2023 ? Yes, Almost one million postsecondary students nationwide will receive funding through the National Student Financial Aid Scheme (NSFAS) for the 2023–2024 academic year. This includes financially supported students attending TVET colleges and public universities across the nation.
According to Higher Education Minister Blade Nzimande, the scheme has been allocated a budget of R47.6 million for the current academic year. He further stated that the NSFAS allowance payments for this year have been adjusted to account for inflation.
Nzimande also affirmed that, in addition to additional benefits, NSFAS allowance payments will continue to be made on a monthly basis but will now be made directly to students through their NSFAS bank accounts.
What Will December’s NSFAS Allowances Be?
Nzimande claims that only students enrolled in an equivalent full-time course load at a distance university are eligible for a personal care allowance. They are eligible to receive R3 045 in personal care allowance payments each year.
The minimum number of course credits required for this cohort of NSFAS-funded students each year is 120. In the meantime, the only benefit available to students enrolled for fewer than 60 course credits is the learning material allowance.
The annual living allowance of R15 750 for all NSFAS-funded university students residing in non-catered university residences is composed of R3 045 for personal care allowance and R12 705 for meals.
All privately owned or leased educational facilities, as well as their student housing allowance, will be capped at R45 000 per academic year. Nsfas or other institutions will be required to pay private accommodation allowances directly to private accommodation service providers.