The National Student Financial Aid Scheme, NSFAS, has served as an essential source of funding for generations of students in South Africa since its establishment. Over the years, the scheme has granted valuable financial support to students through grants and loan facilities to take care of expenses and costs related to studies, such as feeding, accommodation, stationery materials, personal maintenance, and transportation.
Each academic year, the scheme opens for applications from eligible students studying at accredited public tertiary institutions and technical vocational education training (TVET) colleges in South Africa. As a TVET college student hoping to access support from the scheme, there are a number of facts that should be glued to the fingertips, such as information on the financial worth of support facilitated by the scheme. In this article, we will look at the cost of financial support offered by the scheme and the way this support is structured.
How much is NSFAS allowance for TVET students per month?
The National Student Financial Aid Scheme, NSFAS, has an eligibility pool of students studying at public tertiary institutions and technical vocational education training (TVET) colleges in South Africa.
Consequently, this makes students studying at technical vocational education training colleges eligible for financial support from the scheme; This support is offered in the form of allowances that cover a number of expenses and costs incurred in the course of studying for a qualification accredited by the scheme.
These allowances include living allowance, travel allowance, study materials, incidental allowances, registration fees, tuition fees, and accommodation. These rates vary depending on geographical location, with urban students receiving more for certain allowances than students living in rural areas.
Students enrolled for studies at an accredited technical vocational education (TVET) college receive the same allowance as their compatriots studying at public universities in South Africa.
A detailed breakdown of allowances received by TVET students is given below:
- Accommodation: As stated beforehand, a student’s area of residence is factored into calculations of allowances for housing. Also, the available allowance may be determined by the type of institution where the student is currently enrolled for studies. TVET college students may receive between 1312 to 2000 South Africa Rand. Students who reside in private residential units are liable to receive 5970 South Africa Rand for eleven months, taking it to 59700 South Africa Rand.
- Living allowances are paid at the rate of 1500 South Africa Rand
- For travel allowance, TVET college students typically receive 625 South Africa Rand on a monthly basis.
- Allowance for study materials paid at the rate of 433 South Africa Rand per month
- Incidental allowance paid at the rate of 241 South Africa Rand per month
Just like counterparts enrolled for studies at a public university in South Africa, students at TVET colleges receive roughly 8,519 South Africa Rand.
How much does NSFAS pay TVET college students per year?
Students enrolled for studies at a TVET college receive support for registration and tuition fees, personal maintenance, transportation, and accommodation. These allowances amount to the following figures:
- Between 15750 to 24000 South Africa Rand for accommodation depending on if the student is living in an urban, peri-urban, or rural area.
- Between 7000 to 7350 South Africa Rand for transport allowance
- Around 2900 South Africa Rand for incidental and personal maintenance allowance
In summary, students enrolled for studies at a TVET college can receive as much as 34250 South Africa Rand per annum from the NSFAS.
How does NSFAS work for TVET colleges?
In two phases, the NSFAS receives applications for allowances from students studying at a TVET college. In other words, the application cycle is structured in three phases. The first phase runs from the beginning of each year. This phase entertains applications from TVET college students studying for National Certificate Vocational (NCV) qualifications and is open for the first semester and trimester. Applications are online and registered as walk-in assistive capture applications.
The second phase, which involves elements similar to the first, opens in the second and third trimesters in May and September. Furthermore, applications are also received in the months of June and July.
TVET college students can apply for funding at three locations: TVET college bursary offices, online, and at the head office of the National Student Financial Aid Scheme. The NSFAS disburses payments to TVET college students as it does to students of public universities in South Africa.
What does NSFAS cover at TVET college?
The NSFAS disburses allowances to students enrolled at accredited TVET colleges in South Africa to cover a number of study-related costs and expenses. NSFAS allowances cover the following: living allowance, tuition and registration fees, transport allowance, accommodation, and personal maintenance. These allowances total up to a maximum amount of 34250 South Africa Rand.
