NSFAS Changes for 2024: LESS complication for students

Here are all the changes to NSFAS for 2024, as explained during the Minister for Higher Education’s briefing. Applications for the National Student Financial Aid Scheme (NSFAS) for 2024 opened yesterday 21 November 2023 and run until 31 January 2024.  

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The Minister for Higher Education, Science and Innovation, Blade Nzimande, felt the need to explain the changes to NSFAS for 2024. And how they would make the scheme more student-centric going forward.

CHANGES TO NSFAS FOR 2024

At its core, the changes for 2024 will includ direct payments to students. And applicants will not need to submit supporting documents when they apply. The financial aid scheme intends to work around this by verifying all information via SASSA, SARS and the Department of Home Affairs.

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Nzimande believes this will create less opportunity for fraudulent applications. As we reported, NSFAS noted in the past that details of parental relationships were often altered or misrepresented in a bid to secure financial aid for would-be students.

TRUTHFUL STUDENT DECLARATIONS

NSFAS’s budget is R47 billion, which funds roughly 1.1-million students annually. Can you believe the NSFAS funds 80% of all university students and 90% of all TVET College students in South Africa? If you’re in need of financial aid for 2024, check out our guide on how to apply HERE.

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Because of this large number of students, and opportunity for corruption, Nzimande vows that, “anyone who tries to rob NSFAS, they will come after them”. If and when student declarations cannot be verified via SASSA, SARS and the DHA, only then will students need to submit supporting documents.

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What do you think of these changes to NSFAS for 2024? Be sure to share your thoughts with our audience in the comments section below. And don’t forget to follow us @TheSANews on X and The South African on Facebook for the latest updates.