The National Student Financial Aid Scheme (NSFAS) has outlined the process for TVET College students to receive their allowances in the 2025 academic year.
NSFAS provides comprehensive bursaries and student loans to deserving learners enrolled in approved courses at universities and TVET colleges. NSFAS funding covers tuition and registration fees, as well as several allowances for food, accommodation, and learning materials.
Continuing from the 2024 system, NSFAS will directly deposit allowances into the bank accounts of TVET College students. This approach, implemented after the termination of third-party payment providers, offers improved efficiency and stability, according to NSFAS Administrator Freeman Nomvalo.
Accessing NSFAS Allowances
- Registration is Key: Only students with confirmed NSFAS funding and submitted registration information to NSFAS will be eligible for allowance payments.
- Registration Deadline: TVET Colleges will upload student registration data to the myNSFAS manager portal starting in January 2025. Students are urged to complete their registration by January 13th, 2025, to ensure timely disbursement of allowances.
- Payment Process: Allowances will be paid based on valid registration data submitted by colleges. Tuition upfront payments will be deducted first.
Updating Bank Details
Students can update their banking information on the myNSFAS portal by:
- Logging in with their myNSFAS credentials.
- Navigating to "Bank Account Details" under "Profile Information."
- Entering accurate bank details.
- Clicking "Save."
Students are encouraged to maintain updated profiles and submit their banking details promptly to minimize delays in receiving allowances.
New NSFAS-qualifying students are advised to open bank accounts at any South African bank to ensure timely access to their funding.