NSFAS Allowance Payment Dates 2024

By Klenam JU •  Updated: 10/03/24 •  5 min read

Starting university or college can be a daunting experience, with emotions often running high. What you don’t want is extra worries about paying for your studies, accommodation, books, and food.

So, you’ve done your research, found the university or college you want to attend, applied with the National Student Financial Aid Scheme (NSFAS), and finally got the go-ahead to start your higher education journey.

Here’s what you need to know about the NSFAS Allowance payments.

As a student approved for the NSFAS bursary, you will receive registration fees, tuition fees, and a number of other allowances. 

On which date does the NSFAS pay the allowances?

NSFAS allowances are paid monthly. In the 2024 cycle, these are generally paid out in the first week of every month for 10 months. Just a note, the payment of allowances is not simultaneous for all students, so don’t get alarmed if your friend gets their allowance earlier than you.

The 2024 Cycle dates for payments are as follows:

First Semester

Cycle 1 – All Campuses, Monday 28 February 2024

Cycle 2 – All Campuses, Monday 7 March 2024

Cycle 3 – All Campuses, Monday 4 April 2024 

Cycle 4 – All Campuses, Monday 3 May 2024

Cycle 5 – All Campuses, Monday 6 June 2024

Second Semester

Cycle 6 – All Campuses, Monday 18 July 2024

Cycle 7 – All Campuses, Monday 1 August 2024 

Cycle 8 – All Campuses, Monday 5 September 2024 

Cycle 9 – All Campuses, Monday 3 October 2024 

Cycle 10 – All Campuses, Monday 7 November 2024

How much is NSFAS 2024 allowance?

The amount differs slightly between college and university; let’s take a look.

TVET College Allowances:

University Allowances:

Unisa Allowance:

Is NSFAS Allowances Increasing In 2024?

Although there have been some messages going around about the NSFAS increasing the allowances and adding car allowances, these are all fake, and at this stage, the allowances for 2024 will be the same as 2022.

Can NSFAS Pay Some Students More Allowances?

The allowance differs depending on which tertiary institution you attend, as each institution has different registration fees. The distance you travel each day from your accommodation can influence your travel allowance, and your accommodation fees might differ; therefore, student allowances do differ.

How is my accommodation paid? 

As long as your landlord is accredited with NSFAS as a partner to offer private accommodation, he will be paid directly, so you won’t have to draw cash to pay your rent. Check if your accommodation is accredited by visiting your university or TVET website. 

The institution’s websites list the available accommodation available on campus or nearby that is NSFAS accredited. A landlord that is not accredited can put in an application to become a private accommodation with NSFAS using the online application form.

How does the NSFAS pay the allowances?

Universities

The National Student Financial Aid Scheme (NSFAS) allocates funds to universities annually. The universities then distribute the allowances to all students whose funding has been approved.

Some universities rely on payment administrators such as intellimali to process payments and allocate allowances to eligible students, while others opt to allocate the funds to student bank accounts.

NSFAS Wallet – TVET only

If you are studying at a TVET institution, you will open a wallet with the NSFAS. Don’t forget; you need your own cell phone and a valid SIM card to register.

Once activated, your NSFAS wallet will allow you to withdraw cash or make a purchase by creating a NSFAS voucher and presenting it to any merchant registered by NSFAS. Checkers, Boxer, U-Save, and select Spar stores are the merchants used. Remember, these stores have a daily cash withdrawal limit of R200 – R1000 daily.

NSFAS MasterCard

I know, right feels like they don’t trust you. The Good news is that NSFAS is introducing its new direct payment solution for student allowances through the NSFAS MasterCard. The NSFAS is hoping this will give students greater control over their money.

Not all students will have access to the MasterCard. However, students will be contacted individually and moved onto the platform when it launches at the end of September 2024. Eventually, the MasterCard will replace the NSFAS wallet.  

NSFAS MasterCard beneficiaries will get:

 With all the NSFAS allowance information at your fingertips, let your journey begin. Remember Nelson Mandela’s wise words “It always seems impossible until it’s done.”

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