By: Natasha Archary
Higher Education Minister, Blade Nzimande has announced an across-the-board increase in NSFAS allowances for students in 2023.
Breaking down the university student allocations earlier this week, Nzimande shared that the National Student Financial Aid Scheme (NSFAS) fund has a projected R47.6 billion this year.
“Let me indicate that our living allowance increment across the board will be R1650 per month, which is a 10% as compared to the 2022 figure. This increase is above inflation taking into account that for the three years there has been no increase.”
Blade Nzimande broke down the NSFAS allowances for 2023
Minister @DrBladeNzimande giving his opening remarks and unpacking the 2023 allowance allocations for NSFAS beneficiaries in 2023 pic.twitter.com/icq6VePbNI
— NSFAS (@myNSFAS) January 31, 2023
All NSFAS applications closed on Tuesday, 31 January, with a 7% increase in students who will benefit from the fund.
The monthly living allowance that students will receive has increased to R1650 a month.
There is also the R5,460 annual learning material allowance, and an accommodation allowance which has been capped at R45 000 a year.
NSFAS funds over 60% of undergraduate students in public universities, and just over 90% of Technical and Vocational Education and Training (TVET) colleges.
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