The National Student Financial Aid Scheme (NSFAS) has released its accommodation allowance plan for the 2024 academic year. The Minister of Higher Education, Blade Nzimande, revealed this information on 29th January 2024. If you’re wondering how much 2024 NSFAS Allowance you will receive for accommodation, this article has come to your rescue.
NSFAS Accommodation Allowance for 2024
Students who applied for an accommodation allowance (instead of travel) will get funding. The amount received depends on whether they will live in areas classified as either metro or non-metro. Note that this accommodation allowance includes both the living and personal care allowance.
- Allowance for accommodation leased or owned by institutions and private accommodation will be capped at R50 000 annually. Accommodation in other areas will be capped at R41 000 annually.
- Students staying at institution-catered accommodation will have their allowances capped at R66,500 in metro areas and R57,500 in non-metro areas per annum.
- Residency catered by TVET colleges for its students are funded up to R60 000 in metro areas, and up to R51 000 in non-metro areas annually. Institutions in non-metro areas can request that NSFAS review these caps in exceptional circumstances.
When will the Allowance be Paid?
Minister Nzimande has passed information that R4.2 billion in upfront payments for all the NSFAS allowances will be paid to universities and TVET Colleges for the 2024 academic year, on 31 January 2024. R1 billion of this will be paid to TVET Colleges and the remaining R3.2 billion will be paid to universities. Payments will be made monthly, except for February and March, where payments will be made bi-weekly.
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NSFAS Online Application 2024 – Apply Now
