National Student Financial Aid Scheme – myNSFAS & NSFAS Application 2022/2023

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National Student Financial Aid Scheme – myNSFAS & NSFAS Application 2023/2024:

The National Student Financial Aid Scheme (NSFAS) was established in terms of the National Student Financial Aid Scheme (Act 56 of 1999).

The mission statement is made up of three distinct elements, which describe why NSFAS exists and the impact on the constituency:

NSFAS exists to provide financial aid to eligible students at TVET colleges and public universities;
NSFAS identifies eligible students, provides bursaries, and collects past student loan repayments to replenish the funds available for future generations of students; and,
NSFAS supports access to, and success in, higher education and training for students from poor and working-class families who would otherwise not be able to afford to study.

All South African citizens
All SASSA grant recipients qualifies for funding
Applicants whose combined household income is not more than R350 000 per annum
Person with disability: Combined household income must not be more than R600 000 per annum
Students who started studying before 2018 whose household income is not more than R122 000 per annum.

Amounts indicated of accommodation, living allowance, transport, and learning materials need to be aligned with the approved latest DHET guidelines.

Accommodation
As per the actual costs charged by the university (costs for private accommodation must not exceed costs for university residence)
Transport (up to 40 km from institution) R7 500 per annum
Living allowance R15, 000 per annum
Book allowances R5200 per annum
Incidental/personal care allowance R2900 per annum for students in catered residences