The National Student Financial Aid Scheme (NSFAS) has opened its accreditation portal to accommodation providers to apply for accreditation, says Higher Education and Training Minister, Blade Nzimande.
Nzimande, who made the announcement during the department’s Budget Vote on Wednesday, said 8 196 beds have already been accredited covering the Eastern Cape, Gauteng and KwaZulu Natal Provinces.
“NSFAS also pays living allowances in the sum of R1 750 per month and personal care for distance students to the value of R3 045 per academic year. Students not living in residences and private accommodation qualify for transport allowances of R7 875,” Nzimande explained.
On average, he said, a student is funded to the tune of R95 552, excluding Unisa students who only receive books as allowances, because they offer distance learning.
Comprehensive Student Funding Model
On student funding, Nzimande said the department is currently working towards the finalisation of a new Comprehensive Student Funding Model which aims to submit the report to Cabinet before the end of this year.
He said through the model, the department aims to introduce measures to support all the categories of students, including those who are not supported by the current NSFAS funding policy.
The Minister highlighted that NSFAS is currently funding 1.1 million students with a budget allocation of R47.6 billion in the 2023 academic year.
Of this amount, he said, universities have been allocated R38.6 billion and TVET colleges R8.9 billion. In 2023, South African Social Security Agency (SASSA) beneficiaries accounted for 49% of the funded students in 2023.
“To date, the scheme improved its student application portal and it has introduced a WhatsApp and USSD functionality to assist students with the tracking of applications for 2023 and to receive responses directly in order to reduce the reliance on the call center,” Nzimande said.
The Minister also noted that NSFAS pays for the full cost of study, which includes full tuition, accommodation limited to R45 000 per annum, “a measure to ensure that we curb overreaching by student accommodation service providers”.
“It stands to reason that NSFAS should be involved in the student accommodation space and introduce controls as it spends approximately R14 billion a year on student accommodation.
“Last year, NSFAS also introduced direct payments through the NSFAS bank card for TVET Colleges. Groundwork is being done to onboard universities in a phased in approach from the 1st of June this year,” Nzimande said. – SAnews.gov.za
Source: South African Government News Agency