Table of Contents
Sassa Grant Amounts For 2024
The following Sassa grant amounts are for the months of January, February and March as there would usually be a Sassa grant increase in April. Should they not increase, the amounts would then stay the same.
- Older Persons grant – R2 090
- Older Persons (75 years and older) – R2 110
- Disability grant – R2 090
- War Veterans grant – R2 110
- Child Support grant – R510
- Child Support grant (Top-up) – R510 + R250
- Care Dependency grant – R2 090
- Foster Care grant – R1 130
- Grant-In-Aid – R510
R350 Grant
The Social Relief of Distress (SRD) grant will come to R350 with an SRD grant increase not seeming likely. The grant will most likely stay at R350 until it comes to an end in March 2026.
It was revealed that the DSD had submitted a proposal to the National Treasury to increase the value of the SRD grant. However, the proposal was not favourably considered due to fiscal constraints.
Sassa has made it clear that beneficiaries should not rush to withdraw their Sassa payment on the first day it becomes available and to remember that once the money has been sent to their accounts, it will remain there until they need it.
In addition, there are a few ways beneficiaries can collect their grants. These include:
Bank Account
Permanent grant beneficiaries and SRD recipients have the option of having their grants paid directly into their bank account. This is a convenient grant payment method as beneficiaries can access their money at any time after the payment was made by Sassa.
Retail outlets
Sassa grants are paid to selected retailers around the country. The vast geographical footprint of retail outlets makes it easy for grant recipients to find one close to where they live.
Beneficiaries can withdraw their money at any time when the retail outlet is operational. Pick n Pay, Shoprite, Boxer stores, Usave stores and Checkers all distribute social grants.
Related Resources
Student Loans in South Africa: How to Apply and What to Expect
For many young South Africans, accessing higher education is a dream that often comes with a financial challenge. Fortunately, several student loan optionsstrong> are available in South Africa to help fund university, college, or TVET studies. Whether you’re looking for a government loan like NSFAS or a private student loan from a bank, understanding the process is essential for success.
What Are Student Loans?
Student loans are a form of financial aid provided to eligible students to help cover tuition fees, books, accommodation, and other study-related expenses. In South Africa, these loans can come from government institutions like NSFAS or private banks such as Nedbank, Standard Bank, FNB, and Absa. Most loans offer repayment flexibility and low-interest options until you graduate.
Types of Student Loans in South Africa
- NSFAS (National Student Financial Aid Scheme): A government-funded loan/grant program for students from low-income households. Covers tuition, housing, transport, and meals.
- Bank Student Loans: Offered by most major banks. These are credit-based and require a guardian or parent as a co-signer.
- Private Loan Providers: Companies like Fundi offer educational loans covering various costs such as school fees, gadgets, and textbooks.
Requirements to Qualify for a Student Loan
Each provider has its own criteria, but most South African student loans require the following:
- Proof of South African citizenship or permanent residency
- Proof of registration or acceptance at a recognised tertiary institution
- Parent or guardian with a stable income to co-sign (for private loans)
- Completed application form with supporting documents (ID, proof of income, academic records)
How to Apply for a Student Loan
To apply for a student loan in South Africa, follow these steps:
- Identify your loan provider: Choose between NSFAS, a bank, or a private lender.
- Gather necessary documents: ID copies, academic transcripts, acceptance letters, and income statements.
- Complete the application form online or at a branch.
- Await approval: Some banks offer instant decisions, while NSFAS can take a few weeks.
- Receive disbursement: Funds are typically paid directly to the institution or your account, depending on the lender.
Loan Amounts and Repayment
The loan amount you can receive depends on your chosen lender and financial need:
- NSFAS: Covers full tuition, residence, books, and a personal allowance. The loan becomes a bursary if you pass all your courses.
- Banks: Can provide up to R120,000 or more annually, depending on tuition costs and credit history.
Repayment usually starts after graduation or once you start earning an income. Bank loans may require interest-only payments during your studies. NSFAS repayment only begins when you earn above a specific income threshold.
FAQs on Student Loans in South Africa
1. Can I apply for a student loan without a parent or guardian?
For government loans like NSFAS, yes. But most banks require a financially responsible co-signer, especially for students without an income.
2. Is NSFAS a loan or a bursary?
NSFAS starts as a loan, but it converts to a bursary if you meet academic performance requirements. This means you may not have to pay it back.
3. What is the interest rate on student loans?
Private banks offer competitive rates between 5% and 12%, depending on the applicant's credit profile. NSFAS charges a much lower interest rate, usually linked to inflation.
4. What happens if I fail my courses?
If you’re funded by NSFAS and fail, your loan won’t convert into a bursary, and you’ll need to repay the full amount. Banks may continue charging interest, and your co-signer may be held liable.
5. Can I use a student loan to pay for accommodation and laptops?
Yes. Both NSFAS and many bank student loans cover costs beyond tuition, including housing, meals, textbooks, and electronic devices like laptops or tablets.
Final Thoughts
Student loans in South Africa offer a much-needed financial lifeline to thousands of students every year. Whether you're applying through **NSFAS** or a private bank, ensure you understand the **terms, interest rates, and repayment conditions** before signing any agreement. Make informed decisions today to secure your academic and financial future tomorrow.