How Much Is NSFAS Money For 2026

The National Student Financial Aid Scheme (NSFAS) offers financial support to South African students who are unable to afford their studies. For the 2026 academic year, NSFAS announced an increase in its student loans from R9,100 to R35,000, demonstrating the government’s dedication to making higher education accessible to a wider range of students. This article will cover the loan amount for the 2026 academic year and the eligibility criteria for applicants.

NSFAS Bursary Application Now Open for Eligible South African Students

If you are a South African citizen with a total household annual income of R350,000 or less and wish to study at a public university or TVET institution in South Africa, you may be eligible for financial aid through the National Student Financial Aid Scheme (NSFAS). The NSFAS application portal is currently open and will close on January 31, 2025.

See Also: How To Activate NSFAS Wallet For 2024-2025

Will 2026 NSFAS money be increased?

The NSFAS budget has been gradually increasing to support more eligible students and address rising education costs. With the government prioritizing higher education and accessible education for all, NSFAS funding is expected to continue growing.

NSFAS Eligibility Criteria

To qualify for NSFAS funding, you must meet the eligibility criteria below:

• South African citizenship or permanent residency.
• Enrollment or plans to enrol at a public university or TVET college.
• Financial need, as determined through the means test.
• Satisfactory academic progress, generally having passed at least 50% of the modules in the previous year.

Read Also: Are NSFAS Applications Open For 2024-2025?

NSFAS Wallet Allowances for Eligible Students

NSFAS-funded students at public universities and accredited TVET colleges who qualify for allowances will receive cash funds directly in their NSFAS wallets. These funds are intended to cover approved expenses, with any additional costs to be financed by the students themselves.

UNIVERSITIES

• Allowances for Accommodation As per the actual costs charged by the university (costs for private accommodation must not exceed costs for university residence) (NSFAS Rent Allowance)
• Transportation allowances (up to 40 km from the institution) of R7 500  per year
• Living allowance of R15, 000 per year
• Learning Materials allowances of R5200 per year
• Incidental/personal care allowance of R2900 per year for students in catered residences

TVET COLLEGES

• Allowances for Accommodation in an urban area amounting to R24,000 per annum
• Allowances for Accommodation in a peri-urban area  amounting to R18,900 per annum
• Allowances for Accommodation in a rural area  amounting to R15,750 per annum
• Allowances for Transport (up to 40 km from the institution)  amounting to R7,350  per annum
• Allowances for Transport  amounting to R7000 per annum
• Allowances for Incidental/personal care amounting to R2900 per annum

NSFAS contact details

• Telephone: 0800 023 456
• Email: info@nsfas.org.za
• Postal Address: Private Bag X1, Plumstead, 7801

For more details, visit the official website of NSFAS

Related Posts

• When NSFAS Open for 2024 Application
• How to Register for NSFAS 2024-2025
• How To Apply For 2024 NSFAS – www.nsfas.org.za login
• South Africa NSFAS Bursaries For 2024-2025

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