NSFAS is a financial aid scheme that provides financial assistance in the form of bursaries to eligible students to study at tertiary education institutions. They also provide students with allowances and here is how long students receive them.
The National Student Financial Aid Scheme (NSFAS) is a government student bursary scheme that receives its funding budget from and reports to the Department of Higher Education and Training.
NSFAS provides financial assistance in the form of bursaries to eligible students at public universities and Technical and Vocational Education and Training (TVET) Colleges in South Africa.
See also – NSFAS Bursary Online Application
NSFAS will cover more than just the tuition fees of students. The bursary covers you with the following if you qualify:
- Tuition fees
- Living allowances
- Book allowances
- Incidental/personal care allowance for students in catered residences
The NSFAS allowances are paid to students during the first week of each month over a period of 10 months.
NSFAS will fund students for the entire duration of their course or degree. Most degrees take about 3 to 4 years, whereas medical degrees for example take up to 7 years.
If the student fails one year, NSFAS has agreed to fund them for an extra year.