NSFAS (National Student Financial Aid Scheme) is a government-funded organization that provides financial aid to students who cannot afford to pay for their tertiary education. One of the benefits of being a NSFAS recipient is receiving a monthly allowance to help cover basic living expenses. In this article, we will discuss how much the NSFAS allowance is per month.
NSFAS Allowance Amounts
The amount of the NSFAS allowance varies depending on the student's household income, level of study, and the institution they attend. Below is a breakdown of the 2021 NSFAS allowance amounts:
- University students living in residences: R15,000 per year or R1,500 per month
- University students living at home: R7,500 per year or R750 per month
- TVET College students living in residences: R25,000 per year or R2,500 per month
- TVET College students living at home: R6,000 per year or R600 per month
It's important to note that these amounts are subject to change and may vary based on the student's individual circumstances. It's always best to confirm the exact amount with your institution's financial aid office.
How the NSFAS Allowance Is Paid
The NSFAS allowance is paid directly to the student's institution, which then distributes the funds to the student. The payment is typically made in monthly installments and covers a period of ten months, from February to November.
Allocation of Funds
The NSFAS allowance is allocated to cover basic living expenses such as accommodation, meals, and transport. It's important to budget wisely and use the funds for their intended purpose to ensure that they last throughout the year.
Additional Funding
Students who require additional financial assistance beyond the NSFAS allowance may be eligible for other forms of funding such as bursaries or loans. It's important to explore all available options and apply for as many as possible to ensure that adequate funding is secured.
Conclusion
The NSFAS allowance is a valuable resource for students who require financial assistance to pursue their tertiary education. The amount of the allowance varies based on the student's circumstances, and it's important to use the funds responsibly to ensure that they last throughout the year. Students who require additional funding should explore all available options and apply for as many as possible to secure adequate funding.
