The National Student Financial Aid Scheme (NSFAS) has outlined payment procedures for August allowances, impacting all funded students.
NSFAS offers bursaries and student loans to deserving learners enrolled in approved courses at universities and TVET colleges. This funding is meant to assist students from poor and working-class backgrounds to pay for their tertiary education studies.
University Students
Universities will continue disbursing NSFAS allowances until year-end. This decision follows an earlier announcement indicating university responsibility for payments until July 2024.
TVET College Students
NSFAS will directly deposit allowances into TVET students’ bank accounts. All students must have a registered bank account to receive funds.
To update bank details:
- Log in to the myNSFAS portal.
- Access “Bank Account Details” under “Profile Information”.
- Enter banking information and save changes.
End of NSFAS Direct Payment Card
The new payment system replaces the NSFAS Direct payment card. NSFAS has terminated contracts with associated service providers. However, legal proceedings are underway.
