Thousands of students receive comprehensive funding from the National Student Financial Aid Scheme. These students receive several allowances that aim to cover the costs of tertiary education allowing students to focus on their studies.
The National Student Financial Aid Scheme (Nsfas) will provide comprehensive funding to more than one million students during the 2023 academic year. The scheme has revealed that the allowances received by students will be increased this year.
Earlier this year, Minister of Higher Education and Training Blade Nzimande announced across-the-board increases to allowances received by Nsfas students.
Nsfas students receive several allowances that aim to cover the costs related to their studies. This includes a learning material allowance, a living allowance, and an accommodation allowance.
Minister Nzimande explained that the Nsfas living allowance will be increased by 10% and is now valued at R16 500 for university students.
Nsfas recently met with the South African Union of Students (SAUS) to deliberate on some of the most urgent issues facing students in the higher education sector.
SAUS explained that during the meeting it was noted and reaffirmed the decision of the government to increase living allowances by 10% as per the submission of the union and not 5%.
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The union explained that pending the concurrence with Minister Nzimande, the increase in allowances will be processed for students. Nsfas Living Allowances Increased By 10% In 2023
”Therefore, the meeting resolved that pending a concurrence with the Minister, all increments shall be processed before the end of this week and paid retrospectively to students at the next payment cycle”.
Nsfas also revealed that the accommodation allowance paid by the bursary scheme will be capped at R45 000 per annum. This is paid over a year with students needing to find accommodation equal to or less than R4 500 per month.
They explained that the accommodation allowance was introduced to manage unregulated costs and prevent profiteering and price collusion by private student accommodation providers.
SAUS acknowledged that students have fallen victim to the exploitation by universities and private accommodation service providers and revealed. They revealed that during the meeting it was agreed that Nsfas will finalize rapid interventions to ensure that no student is left without accommodation.
The finalization of these rapid interventions is expected to be concluded by 7 March 2023.
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