NSFAS has revealed that it has received its first budget allocation from National Treasury and has subsequently released funding to institutions based on the registrations records that the scheme has received.
The Scheme will start processing payments to institutions and paying student allowances from Friday, 8 April 2022.
They said, “All official communication has been sent to all institutions on the allowance payment process. The institutions that have complied with the 2022 approved NSFAS Eligibility Criteria and Conditions for Financial Aid will receive payment from NSFAS”.
NSFAS has called on the institutions to abide by the funding rules set out in the schemes Eligibility Criteria and Conditions for Financial Aid when disbursing money to students.
The NSFAS bursary covers tuition costs, accommodation costs, food, transport, textbook allowance, learning material costs and registration fees for qualifying students.
These students must meet all the qualifying criteria and must be attending either a public university or Technical and Vocational Education and Training (TVET) colleges.
Around 900 000 applications for funding were received by NSFAS for the 2022 academic year. Minister of Higher Education Blade Nzimande said that the fund had the budgetary capabilities to fund all the deserving applicants.
