Understanding NSFAS
If you are interested in student accommodation you will need to know what the National Student Financial Aid Scheme ( NSFAS ) is and how it works . Basically , it ’ s a government backed bursary scheme that provides poor and working class South African students with financial aid to study at universities and TVET ( state sponsored ) colleges , but does not cover fees for private institutions .
The amount that NSFAS pays towards student accommodation
depends on the specific university or TVET college . In 2019 , top universities in urban areas paid up to R55 000 per year whereas a smaller university in a rural area might only pay around R15 000 per year . The rate is generally lower for TVET students compared to university students , and these amounts change every year and you need to refer to the published rates annually .
There are many business benefits in catering for NSFAS students ; generally these students can commute from home and require
22 DECEMBER 2022 / JANUARY 2023 SA Real Estate Investor Magazine