NSFAS Book Allowance 2023

NSFAS Book Allowance

NSFAS was established according to the National Student Financial Aid Scheme Act (Act 56 of 1999) and incorporated TEFSA (Tertiary Education Fund of South Africa). From 1993 to 2000, TEFSA was the primary non-profit company in Section 21 of the Companies Act and ceased operating in July 2000. All existing loans on the TEFSA books were transferred to NSFAS.

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Financial Aid
The NSFAS Act enables any student to apply for a bursary from NSFAS but allows the board to impose conditions, generally, or in respect of a particular loan or bursary. Such conditions include the use of the means test and the loan conversion of up to 40 percent of any loan as an incentive for academic success.
It provides for payment by NSFAS of the amount of the loan or bursary “to the designated higher education institution”, rather than to the applicant. It also allows NSFAS to enter into what is in effect an agency agreement with higher education institutions (HEIs) or further education and training (FET) colleges.

NSFS ALLOWANCE CATEGORY	ANNUAL AMOUNT	SELF-CATERED/CATERED RES
Study Materials (Once Off)	R5,200	R5,200
Accommodation (Max)		R5,617 (Private)
Living Allowance	R15,000	R1,500
Incidental Allowance	R2,900	R290
Travel	R7,500	R750 (Home)

Accommodation:

Your accommodation is crucial. Unlike University students, the amount here had been fixed, and you already know what you will get depending on the area you stay in.

If you reside in an urban area, you will get R24 000 per year from the NSFAS allowance. Those that stay in the peri-urban area will be given R18 900 per year under the allowance system. Additionally, those staying in a rural area are entitled to R15 750 per year as beneficiaries, for their accommodation allowance.