What is the NSFAS limit?

The National Student Financial Aid Scheme (NSFAS) is helps out many South African students by providing financial assistance to those from disadvantaged backgrounds.

But with financial aid comes limitations, and understanding these limits is needed for managing your NSFAS funding effectively. 

What Does NSFAS Funding Cover?

NSFAS funding is not a single lump sum.

Instead, it’s allocated across various categories to address your essential student needs.

These categories include:

  1. Tuition Fees: NSFAS pays tuition fees directly to your registered educational institution, ensuring your academic expenses are covered.
  2. Accommodation: NSFAS provides an allowance for accommodation, with differentiated caps depending on your institution type (university or TVET college) and location (metro or non-metro areas).
  3. Living Allowance: This allowance helps cover your daily living expenses, including food and personal care items.
  4. Transport Allowance: An allowance is provided to assist with commuting costs to and from your institution, capped at a specific distance from your residence.
  5. Book Allowance: A yearly allowance is allocated to help purchase essential learning materials.

NSFAS Capped Amounts

NSFAS sets a maximum amount it will fund for each expense category.

These capped amounts are crucial to remember, as they define the upper limit of your financial support.

What is the NSFAS limit for university tuition fees in 2024?

The NSFAS capped amount for university tuition fees in 2024 is R87,000.

This means NSFAS will cover your tuition fees up to this amount.

If your institution charges higher fees, you’ll be responsible for the remaining balance.

What is the difference between NSFAS allowances and capped amounts?

NSFAS allowances (living allowance, transport allowance, book allowance) are fixed annual amounts provided to you directly.

Capped amounts, on the other hand, define the maximum NSFAS will fund for specific expenses (tuition fees, accommodation).

How much is the NSFAS accommodation allowance in 2024?

The NSFAS accommodation allowance varies depending on your institution type and location.

Here’s a breakdown for 2024:

  1. University Students:
    • Metro Areas: R50,000 per year
    • Non-Metro Areas: R41,000 per year
    • Catered Accommodation (inclusive of living allowance):
      • Metro Areas: R66,500 per year
      • Non-Metro Areas: R57,500 per year
  2. TVET College Students: R24,000 per year

Can I exceed the NSFAS capped amount for accommodation?

NSFAS won’t fund any amount exceeding the capped limits for accommodation.

If you choose to live in private accommodation that costs more than the capped amount, you’ll need to cover the difference yourself.

How much is the NSFAS living allowance in 2024?

The NSFAS living allowance for university students in 2024 is R16,500 per year. This allowance is divided into:

  1. Meal Allowance: R13,455 per year
  2. Personal Care Allowance: R3,045 per year

Does NSFAS have an age limit?

No, NSFAS does not have a specific age limit for applicants.

As long as you meet the eligibility criteria, you can apply for NSFAS funding regardless of your age.

This is particularly beneficial for individuals who may have delayed their studies due to various circumstances.

What is the income threshold for NSFAS eligibility?

The income threshold for NSFAS eligibility is based on your combined household income.

For most applicants, the combined household income must not exceed R350,000 per year.

For students with disabilities, the combined household income threshold is higher, at R600,000 per year.

If you began your studies before 2018, the income threshold is R122,000 per year.

Can I use my NSFAS allowance for anything?

NSFAS allowances are intended to cover specific educational expenses.

You cannot use them for unrelated purposes like entertainment, luxury items, or gambling.

Misusing your NSFAS funds can lead to serious consequences, including suspension of funding or even legal action.

NSFAS encourages responsible spending and offers budgeting tools and workshops to help students manage their allowances effectively.

Remember, your NSFAS funding is an investment in your future, so utilize it wisely.

How do I apply for NSFAS funding?

The application process for NSFAS funding opens in August each year.

You can apply online through the NSFAS website or visit a participating SASSA office for assistance.