NSFAS allowance | How much is the NSFAS allowance for 2024 per month

The National Student Financial Aid Scheme (NSFAS) is important for many South African students, providing financial assistance to those from disadvantaged backgrounds.

Understanding the NSFAS allowance structure is needed for budgeting and planning your academic year.

This article will disclose the details of the NSFAS allowance for 2024, including the different components and how much you can expect to receive per month.

What are the Different Types of NSFAS Allowances?

The NSFAS allowance is not a single lump sum.

Instead, it’s comprised of several components designed to cover various essential expenses students incur during their studies.

Below is a list of the different types of NSFAS allowances for 2024:

1. Living Allowance: This allowance is intended to help with everyday living expenses like food and groceries.
   • University Students: R16,500 per year (roughly R1,375 per month)
   • TVET College Students: R10,000 per year (roughly R833 per month)
2. Personal Care Allowance: This allowance caters to toiletries and other personal hygiene needs.
   • All Students: R3,045 per year (roughly R254 per month)
3. Accommodation Allowance: This allowance helps with the cost of on-campus or private accommodation. The amount varies depending on the type of accommodation and location:
   • Urban Area: R24,000 per year (paid directly to the institution)
   • Peri-Urban Area: R18,900 per year (paid directly to the institution)
   • Rural Area: R15,750 per year (paid directly to the institution)
4. Transport Allowance: This allowance assists with commuting costs to and from the institution. The amount depends on the distance between your residence and your institution (capped at R7,875 per year).

It is important to remember that these are annual allowances.

The actual amount you receive per month will depend on the disbursement schedule determined by NSFAS and your institution.

How Much is the Living Allowance for NSFAS in 2024?

The living allowance for NSFAS students in 2024 varies depending on whether you’re enrolled at a university or TVET college:

1. University Students: R16,500 per year (roughly R1,375 per month)
2. TVET College Students: R10,000 per year (roughly R833 per month)

You must understand that the living allowance is meant to be a contribution towards your living expenses.

Responsible budgeting and exploring cost-saving measures are essential to ensure it stretches throughout the academic year.

Do NSFAS Students Get Paid Monthly?

NSFAS allowances are not directly deposited into student accounts on a monthly basis.

Disbursement schedules can vary, but funds are typically released in instalments throughout the year.

It’s important to consult with your institution’s financial aid office for details on their specific disbursement schedule.

Do I Still Qualify for an Accommodation Allowance if I Live with Family?

Students residing with family or relatives within 10km of their institution are not eligible for the accommodation allowance.

However, they may qualify for a travel allowance determined by the institution, with a maximum of R7,875 per year.