The National Student Financial Aid Scheme (NSFAS) has allocated R47.6-billion to assist students in need of financial assistance.

Higher Education Minister Dr Blade Nzimande estimated that 900 000 tertiary students could benefit from the allocated funds for the 2023 academic year.

Nzimande says of the qualifying students, more than 60 percent of undergraduate students in the public university system received support from NSFAS.

Last week, the minister announced that NSFAS-funded students with historic debt would be allowed to register for the upcoming academic year.

He adds that the higher education department conducted extensive consultations on upping the allowances for NSFAS beneficiaries.