TVET Colleges are an important part of transferring practical vocational skills into the country’s workforce and overall economy, hence they also take priority when the National Student Financial Scheme allocates funding to qualifying students.
While universities almost always take centre-stage when discussions about student funding by Nsfas come up, the fact that TVET Colleges almost double them in overall number means that they also take priority in funding allocation by the bursary scheme.
This was more evident in the 2023 academic year’s Nsfas funding allocation for TVET College students which was revealed on Wednesday earlier this week.
While joined by the Nsfas Board during his Nsfas state of readiness speech for the 2023 academic year, Higher Education Minister Blade Nzimande said that TVET College students may be eligible for travel or accommodation allowance.
Funding for TVET College students will be allocated according to the following arrangement:
- Students who reside in TVET College’s self-catered residence will receive an accommodation allowance capped at R54,045 a year.
- Students who reside in TVET College self-managed accommodation will receive a living allowance of R6,000, a personal care allowance of R3045, and a maximum living allowance capped at R45,000 that will be paid to TVET Colleges a year.
- TVET College students who live in private will also receive a living allowance of R6000, a personal care allowance of R3045, and a maximum living allowance capped at R45000 that will be paid to TVET Colleges annually.
- TVET College students who live less than 10 km from their college will receive a living allowance of R6,000, a personal care allowance of R3045, and a total travel allowance of R7,718.
He also emphasised that only distance TVET college students are eligible for the personal care allowance, which amounts to a total of R3,045.
However, students at TVET colleges who are registered for occupational qualifications may be eligible for allowances ONLY if they are participating in simulated training and are not Nsfas-eligible due to job contracts.
TVET colleges in South Africa play a crucial role in providing technical and vocational education and training to individuals seeking skills for the workforce.
These colleges, which are 50 in total offer a range of courses in areas such as engineering, construction, business, and information technology, among others.
Through the programs they offer, TVET colleges aim to prepare students for employment and to meet the demands of the South African economy.
This provides a pathway for individuals, particularly those from underprivileged backgrounds, to acquire the skills and knowledge needed to secure job opportunities and contribute to the country’s economic growth.