Over the past few months, the National Student Financial Aid Scheme (NSFAS) has taken measures to ensure that its benefiting students are paid directly from them. The scheme has done this through the introduction of the NSFAS Bank Account.
NSFAS has already confirmed that students will start receiving their allowance payments in June. However, NSFAS has also stated that allowances for students with disabilities will still be paid through their respective institutions.
Please note that allowances for students with disabilities will still be paid through the institutions.
NSFAS collaborated with third-party financial service providers eZaga, Coinvest, Morocco, and Tenet Technology, to introduce the NSFAS bank account. Funded students are urged to register or onboard each of the above-mention Financial Service Providers.
Students from the universities listed below will have their NSFAS bank accounts onboarded by eZaga:
- Durban University Of Technology
- Tshwane University Of Technology
- University of Free State
- University of Limpopo
- University of Zululand
- Vaal University of Technology
Universities to be onboarded by Tenet Technologies
- Cape Peninsula University of Technology
- University of Kwa Zulu Natal
- University of Venda
- University of Pretoria
- University of Western Cape
- University of Witwatersrand
- Walter Sulu University
Universities to be onboarded by Noracco:
- Central University of Technology
- Mangosuthu University of Technology
- Nelson Mandela University
- North West University
- University of Fort Hare
- University of Johannesburg
Universities to be onboarded by Coinvest
- Rhodes University
- Sefako Makgatho Health Science University
- Sol Plaatjie University
- Stellenbosch University
- University of Cape Town
- University of Mpumalanga
- University of South Africa
By registering for and opening their NSFAS Bank Account, beneficiaries will be able to receive their allowances directly from NSFAS, without having to wait for the funds to be paid through the institutions they are studying at.
This means that beneficiaries can access their funds quicker, which is especially important for those who depend on these allowances to cover their daily expenses.
NSFAS has also confirmed that students will start receiving their allowance in June directly. However, students with disabilities will be paid through institutions.
