How Much is the FASSET Bursary Monthly Allowance?
One of the key benefits of the FASSET bursary is the monthly allowance provided to recipients. This allowance is intended to cover essential living expenses during your studies.
But how much exactly can you expect to receive each month? In this comprehensive guide, we analyze the key factors that determine your FASSET bursary monthly allowance amount.
Overview of the FASSET Bursary Allowance
First, let’s understand the purpose and context of the monthly allowance.
The FASSET bursary aims to support students not just with tuition fees but also living costs like accommodation, food, transport etc. This enables recipients to fully focus on their academics.
To this end, the bursary provides a monthly living allowance on top of covering your tuition fees.
This regular allowance can be used towards expenses like:
- Renting student accommodation near campus
- Purchasing groceries and meals
- Daily commuting costs like bus/taxi fare
- Stationery, printing, photocopying costs
- Personal healthcare items and medication
The allowance amount is carefully set to enable access to decent accommodation, regular nutritious meals, and other basic living necessities.
It is not intended as disposable income for luxury expenditure. You are expected to use it responsibly in line with its intended purpose.
Now let’s analyze key variables that determine your specific monthly allowance amount.
Factors That Determine Allowance Amount
As you may have realized, the FASSET bursary allowance amount is not fixed. Several factors come into play, including:
1. Specific Bursary Program
FASSET offers different bursary programs catered to students in different circumstances. Popular ones include:
- Missing Middle Bursary – For students from households earning between R350k-R600k annually.
- NSFAS Loan Repayment Grant – Supports graduates repaying NSFAS loans.
- General Bursary – For students demonstrating financial need.
The monthly allowance on these different programs may vary based on funding availability and target group.
For example, the “missing middle” group allowance may be higher than the general bursary allowance, as their household income is also higher on average.
So your specific bursary scheme is the first determinant of your allowance amount.
2. Study Location and Institution
The province and city where your institution is located also impacts your allowance amount.
This is because cost of living varies significantly in different parts of South Africa. Rental, food, transport costs in Johannesburg will be higher than a small town for instance.
To account for this, FASSET benchmarks living costs in different areas and sets location-based allowance amounts.
Whether you study at Wits, UCT, University of Venda or UNISA will result in differences in the monthly amount.
Even the specific campus may matter. For example, allowances for University of Pretoria students may differ between the Hatfield and Groenkloof campuses due to location factors.
3. Type of Accommodation
FASSET structures the allowance based on the average rental costs for student accommodation in your area.
This means the amount assumes you will take student housing options like:
- University residences on/off campus
- Accredited privately owned student residences
- Shared student apartments near campus
If instead you choose more expensive non-student housing, your allowance amount will remain the same. You’ll have to top up the shortfall yourself.
So the type of accommodation you opt for also impacts the financial support you receive.
4. Study Level
Finally, your academic stage also influences your FASSET bursary allowance amount.
As an undergraduate, the monthly amount you receive may be lower than master’s or doctoral candidates for instance.
This is because postgraduate students generally have greater financial responsibilities and living costs. Their allowance is adjusted accordingly.
In summary, while the FASSET bursary allowance caters for essential living costs, the exact rand value you receive each month depends on:
- Your specific bursary scheme
- Location of your institution
- Your choice of student accommodation
- Level of your studies
This enables FASSET to customize the allowance based on your unique situation and needs.
How to Find Your Exact Allowance Amount
Now that you understand the factors impacting the allowance amount, how do you find out the exact monthly value you will receive?
Here are steps to determine your personalized allowance:
Check Your FASSET Learner Profile
Once you’ve applied and been accepted for a FASSET bursary, you gain access to the FASSET Learner Portal.
Log into your profile on the portal and navigate to your bursary program page. This contains a breakdown of your bursary benefits.
Your monthly allowance amount should be listed under the “Living Allowance” or similar section.
If not, contact the FASSET team and request them to update your profile with the allowance details.
Verify Your Bursary Award Letter
When you are awarded a FASSET bursary, you should receive a formal award letter by email or post.
Thoroughly check this letter, as it normally confirms not just your bursary acceptance but also breakdown of benefits like the monthly allowance value.
If the allowance amount is missing, get in touch with FASSET to provide the exact figure in writing.
Ask FASSET Directly
If you are unable to find your allowance amount through the learner portal or award letter, take it up directly with FASSET.
Reach out to them through:
Email: [email protected]
Phone: 011 476 8570
Provide your name, ID number, institution details, bursary program etc. Request them to confirm the exact amount you will receive each month.
FASSET should be able to look up your bursary application details and provide the specific allowance amount.
By proactively following up through these channels, you can get clarity on the financial assistance to expect.
Planning Your Finances Around the Allowance
Once you know your FASSET bursary monthly allowance amount, you can plan your spending wisely:
- Budget diligently – Track your income and expenses every month. Budget based on needs vs wants.
- Prioritize essentials – Use the allowance for basic needs like accommodation, food, transport and academic costs first.
- Choose cost-effective housing – Opt for university residences or shared student apartments to limit rental costs.
- Cook meals yourself – Avoid expensive takeaways. Meal prep to save on food expenses.
- Supplement smartly – Take up part-time work, tutoring or research assistant roles to earn extra income.
- Build savings – Save a portion every month for unexpected expenses. Avoid unnecessary debt.
- Spend responsibly – Limit entertainment, shopping and travel costs. Seek free or low-cost recreational activities.
With some financial discipline, the FASSET allowance can sufficiently cover your core living costs during studies.
Get in Touch with FASSET
I hope this guide gives you clarity on what to expect from your FASSET bursary monthly living allowance.
Don’t hesitate to contact the FASSET team if you have any other questions:
Email: [email protected]
**Phone: **011 476 8570
Website: www.fasset.org.za
They can assist with queries on allowances or any other bursary-related matters.
All the best with your bursary application and studies ahead!
SEE Check Fasset Bursary Status 2024: Easy Steps and Updates
Conclusion
- The FASSET bursary monthly allowance amount varies based on your specific bursary scheme, study location, accommodation type and academic level.
- To find your exact allowance amount, check your Learner Portal, award letter, or contact FASSET directly.
- Budget diligently within this allowance to cover your essential living costs like housing, food and transport.
- Supplement through part-time work or tutoring if you require additional income. Seek assistance from FASSET if needed.
FAQs
When is the FASSET bursary monthly allowance paid out?
The living allowance is paid directly to your bank account on a monthly basis, typically in the first week of every month. The first payment is received once all signed bursary contracts have been submitted.
Can I use the FASSET bursary allowance to cover daily commuting costs?
Yes, your transport costs like bus/taxi fares for commuting to campus can be covered through the monthly allowance. Budget accordingly to ensure you have sufficient funds.
What happens if I spend the full allowance but still have uncovered expenses?
You are expected to use the allowance prudently for essential living costs. But if you require additional support, speak to your FASSET program officer for advice on potential financial assistance options.
Does FASSET provide allowances upfront for expenses like textbooks?
No, FASSET does not normally provide any upfront amounts. You receive a fixed monthly living allowance. Save in advance from this amount for once-off expenses within each semester.
If I receive external financial aid, can I keep the FASSET allowance?
If you receive additional funding like scholarships or family assistance, your FASSET allowance may be revised or terminated, depending on the circumstances. Disclose any additional aid to FASSET.
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