Higher Education Minister Blade Nzimande says the National Student Financial Aid Scheme budget for 2023 was projected at just under R50 billion.
Higher Education Minister Blade Nzimande at a media briefing on 28 October 2021. Picture GCIS
CAPE TOWN – Higher Education Minister Blade Nzimande has projected this year’s National Student Financial Aid Scheme (Nsfas) budget at R47.6 billion.
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During a press briefing, he estimated that 900,000 tertiary students could benefit from the fund for the 2023 academic year.
Nzimande, joined by Nsfas board chairperson Ernest Khosa, gave an update on the scheme’s funding distribution this year.
Last week, the minister announced that Nsfas-funded students with historic debt would be allowed to register for the 2023 academic year.
“Out of these qualifying students over 60% of undergraduate students in our public university system received support from Nsfas. Well over 90% of students in Tvet colleges are Nsfas beneficiaries”.
Nzimande said his department conducted extensive consultation on increasing allowances for Nsfas beneficiaries.
“University managed and catered to students will receive an R5,460 learning materials allowance [and an] accommodation allowance capped at R61,500 per annum”.
