The National Student Financial Aid Scheme (NSFAS) has received a significant budget increase, with an additional R1.8 billion allocated to support higher education in South Africa. This boost raises the total NSFAS funding to R55.4 billion for the upcoming financial year, up from R53.6 billion previously.
Direct allocations to universities have increased by 1.5%, reaching R48.4 billion, while funding for Technical and Vocational Education and Training (TVET) colleges has risen by 4.4% to R14.2 billion. This enhanced funding aims to provide financial aid to approximately 2.1 million students over the next three years, ensuring greater access to tertiary education.
In addition to covering tuition and registration fees, NSFAS bursaries and student loans also provide allowances for food, accommodation, and learning materials. The recent budget increase is expected to improve the livelihoods of students by offering enhanced financial support.
This substantial investment underscores the government’s commitment to empowering young South Africans with the education and skills necessary for the country’s development.
