A total of 275 589 new students will benefit from the National Student Financial Aid Scheme (NSFAS), the Department of Higher Education and the scheme said on Tuesday.
Speaking during a media briefing in Pretoria, NSFAS board chairperson Ernest Khosa said the scheme, which will close for applications at midnight on Tuesday, has received more than 1 587 968 applications online.
“Of this number, approximately 613 909 applicants have been provisionally funded, with 338 320 being continuing students and 275 589 new applicants,” Khosa said.
“At the beginning of the last two academic years, we had started with some uncertainty due to budget shortfalls. This academic year and the next academic year, there is budget certainty.”
He added that the government, through the department, has allocated R47.6-billion for student funding, R38.6-billion for universities and R8.9-billion for TVET colleges (Technical and Vocational Education and Training), respectively.
“Furthermore, the NSFAS is in a position to provide upfront payments to institutions to allow for the payment of allowances and minimise the financial impact on institutions due to NSFAS beneficiaries not paying the registration fee.”
Speaking on allowance, Khosa said the payment of allowances will be made directly into the students’ NSFAS bank accounts and NSFAS-funded students are required to complete the NSFAS direct payment onboarding process to prepare for the payment of allowances into their accounts.
He added that returning university students must meet ongoing academic eligibility requirements in order to remain funded by NSFAS.
“TVET college graduates will be funded for a university undergraduate qualification regardless of the benefit that they would have derived from the application of the N+ rule at a TVET college level, [on the condition they did not exceed the TVET N+ rule).”
Minister of Higher Education Blade Nzimande said more than 900 000 beneficiaries will rely on the scheme for their studies.
“We are looking forward to a happy and smooth take-off to the 2023 academic year and to those graduations where people celebrate their achievements. I plead with all universities to allow returning NSFAS students to register without paying any amount,” Nzimande said.
He added that students who have been rejected can still appeal until February 20 and be ready to provide necessary required documents.
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