The National Student Financial Aid Scheme (NSFAS) has announced how allowances will be distributed in July 2024, affecting all recipients of NSFAS funding.
NSFAS provides comprehensive financial aid to deserving students through bursaries, loans, and allowances that cover living expenses, learning materials, and accommodation.
This aid is available to students enrolled in approved courses at public universities and Technical and Vocational Education and Training (TVET) colleges in South Africa.
How NSFAS Allowance Payments Will Work for July 2024
University Student Allowances
After extensive discussions with university stakeholders, NSFAS has authorized universities to distribute allowances, including the payments for July 2024.
TVET College Student Allowances
Starting from May 2024, NSFAS will directly deposit allowances into TVET college students' bank accounts. NSFAS emphasized that all TVET college students must have active bank accounts.
Discontinuation of the NSFAS Black Bank Card
Previously, students were required to upload their bank details on the myNSFAS portal to ensure timely payments. Those who received notifications of failed banking verifications must promptly update their details on the portal.
The new payment arrangements for university and TVET college students replace the NSFAS Direct payment method, rendering the NSFAS Direct Payment Black Card obsolete. Consequently, NSFAS has terminated its service provider contracts.
How TVET Students Can Upload Bank Details
- Visit the myNSFAS portal.
- Log in using myNSFAS credentials.
- Select "Bank Account Details" under "Profile Information."
- Enter bank details from the chosen bank.
- Click "Save."
Accommodation NSFAS Allowances
NSFAS is committed to paying accommodation allowances directly to private landlords. The scheme has called on landlords to submit their claims to [email protected].
The next tranche of payments is scheduled to be released by June 18, 2024, aiming to clear all legitimate claims and provide relief to landlords. NSFAS has urged landlords not to evict students while awaiting allowance payments.
