The National Student Financial Aid Scheme (NSFAS) has announced how Technical and Vocational Education and Training (TVET) college students will receive their allowances in 2025, starting with February payments.
NSFAS will continue the practice of paying allowances directly into the personal bank accounts of TVET college students. This system, implemented in 2024, replaces the use of third-party payment providers.
This means that for February 2025, TVET College students will receive their allowances directly in their personal bank accounts. This allows for faster and more reliable payment processing, it minimizes instances of non-payment and is more affordable for NSFAS to administer.
The allowances payment channel for TVET College students remains in their bank accounts.
Eligibility for NSFAS Allowances
- Funding Confirmation: Students must have their NSFAS funding approved.
- Registration Data: Students must have submitted their registration information to NSFAS.
Register for your 2025 TVET program as soon as possible. Your institution will then send your registration details to NSFAS.
Colleges should encourage new NSFAS-qualifying students to open bank accounts at any of the South African banking institutions.
How To Update Bank Details
- Log in: Access the myNSFAS portal using your credentials.
- Navigate: Go to "Profile Information" and select "Bank Account Details."
- Enter Accurately: Provide your bank account information correctly.
- Save: Click "Save" to update your details.
Keep your myNSFAS profile current for smooth payment processing. Ensure timely submission of your banking information to receive allowances without delay.
