The National Student Financial Aid Scheme (NSFAS) is a government-funded program under the Department of Higher Education and Training. The NSFAS allowance helps to cover study costs for students who need financial assistance.
Before you can get an NSFAS allowance, you must first apply and be assessed by the scheme. Only then can you expect to receive your monthly payment in time for it to be used on your school or college fees. However, there are some things that affect when and how much money gets pushed through this system – so let’s take a look at what those factors are!
How Much Does NSFAS Give Students Per Month?
The NSFAS allowance is R1500 per month for first year students, R2000 for second year students and so on. The amount of money you get from the NSFAS depends on how many years you are studying at university. The more advanced your course is, the more money you will receive from them each month. For example a third year student will get around R2500 every month while a fourth-year student can receive as much as R3000 per month or even more if they are doing a postgraduate course (Masters Degree).
When does the NSFAS allowance get paid?
Students who are approved their NSFAS loan, allowance and bursary can expect to receive their first payment on or before the 1st of each month. The date is set by the National Student Financial Aid Scheme (NSFAS).
Students can check their payments status in the SAsiS portal or by calling 0800 1010 11.
This means that all students who have met the conditions for payment will receive an NSFAS allowance every month.
Who gets paid first?
The Student Financial Aid System (SFAS) pays students according to a system of “first come, first served”. Each year, SFAS allocates funds based on the number of first-year students that have registered for a course at your institution.
Students who have applied for NSFAS funding but have not yet met all the conditions for payment will be paid once they reach this point in their application process.
Students who are registered for a course and meet all the conditions for payment will be paid before those who are only eligible because they have applied and met some conditions.
What can I do if I don’t receive my allowance?
If you don’t receive your allowance, there are several things you can do.
- Contact your SRC (Student Representative Council) and ask them to intervene with your NSFAS office.
- Contact your NSFAS office.
- Contact your bank and ask them if there are any delays in the payment of funds from NSFAS or Department of Education.
- Talk to school administrators at the institution where you study and see if they know anything about why payments have not been processed yet. Sometimes it can take up to three weeks for students to receive their allowances because banks need time to process money transfers between institutions and departments, so don’t worry if this is the case for you!
And finally, check with your parents; maybe they forgot something important when filling out paperwork for their child’s application process?
NSFAS allowances are paid to all students who have met the conditions for payment.
- Students who have met the conditions for payment will receive the allowance.
- Students who have not met the conditions for payment will not receive the allowance.
- The NSFAS allowances are paid to all students who have met the conditions for payment in their first week of study at a registered higher education institution (HEI). The allowance is usually paid in your first month at your institution, but it could be later if you don’t register during September or October.
The amount of your allowance is determined on the basis of how much you need to pay for tuition, accommodation and other expenses. This allowance can be paid directly into your bank account or via cheque.