Nzimande approves new criteria for NSFAS funding
Higher Education Minister Blade Nzimande has approved the 2024 eligibility criteria for students who want to use the National Student Financial Aid Scheme.
The criteria will apply to students at public universities and TVET colleges.
From 2024, first-year university students must achieve a credit pass rate of 50% in order to get funding.
Living allowance will be R10 000 per month for TVET Colleges and R16 500 per month for university students.
At the same time, the budget for universities decreased by 2% and for TVETs by 2,5% due to the government’s spending cuts.
“University-managed self-catering and private off-campus accredited accommodation will be capped at R50 000 in metro areas and R41 000 in all other areas per academic year while university-managed and catered are capped at R66 500 in metros and R57 500 in other areas,” Nzimande said in a statement.
“TVET College managed and leased self-catered accommodation and private off-campus accredited accommodation will be capped at R50 000 in metros and R41 000 in other areas whilst TVET College owned catered residence will be capped at R60 000 in metros and R51 000 in other areas.
“In 2024, the living allowance will be R10 000 for TVETs and R16 500 for universities per annum (distributed monthly). This is aimed at progressively but decisively closing the gap between TVET College and university students.
Nzimande said academic progression criteria will be measured by the percentage of course credits students achieve in the academic year.
“As of 2024, continuing and First Time Entering Students (FTEN) university students must achieve a credit pass rate of 50%.
“Continuing and FTEN university students must achieve a course credit pass rate of 60 per cent for the end of the 2024 academic year to succeed academically for the 2025 funding year.”
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