The National Student Financial Aid Scheme (NSFAS) has begun distributing allowances to Technical and Vocational Education and Training (TVET) College students.
NSFAS offers comprehensive bursaries and student loans to eligible students enrolled in approved courses at universities and TVET colleges. This funding covers tuition and registration fees, as well as allowances for food, accommodation, and learning materials.
To address ongoing allowance payment issues, NSFAS recently introduced a new allowance payment system that uses direct bank deposits.
NSFAS has devised a payment mechanism to address the ongoing allowance payment challenges through its internal banker. All TVET College Students Funded by NSFAS can receive their allowances through a bank account of their choice with any bank.
All TVET College students funded by NSFAS can receive their allowances through a bank account of their choice. NSFAS encourages students to upload their bank details on the myNSFAS website to ensure they receive their allowances from 25 May 2024.
Students who have not yet uploaded their bank details should do so promptly.
How to Upload Your Bank Details for NSFAS Allowances
1. Visit the myNSFAS portal
2. Log in using your myNSFAS credentials.
3. Under "Profile Information," select "Bank Account Details."
4. Enter your bank details from your chosen bank.
5. Click "Save."
6. NSFAS will verify the submitted information directly with your bank.
It's important to note that this direct payment system has replaced the previous NSFAS bank account facilitated by Fintech service providers. Students no longer need to use their black NSFAS bank card or connect to their NSFAS bank account.
Do not use the previous NSFAS Direct Payment Black Card.
