The National Student Financial Aid Scheme (NSFAS) has verified that nearly all of South Africa's 26 universities have successfully distributed NSFAS allowances to their students. Only one institution has yet to disburse the February 2024 NSFAS allowances.
NSFAS offers comprehensive funding to deserving students enrolled in approved courses at South African universities. This funding covers not only tuition and registration fees but also various allowances to help students with their study-related expenses.
In 2023, NSFAS introduced the Direct NSFAS allowance payment system, which entrusted private companies with the responsibility of disbursing NSFAS allowances directly to students instead of universities managing the process.
While this system continues to operate at institutions in 2024 despite some concerns, NSFAS has opted not to use it at the start of the 2024 academic year.
Instead, NSFAS has announced that universities will facilitate the payment of allowances for February and March 2024, covering expenses such as books, accommodation, transport, food, and personal care.
According to NSFAS, 25 out of South Africa's 26 universities have already disbursed NSFAS allowances to students for February 2024, with payments made as per the agreed-upon dates.
NSFAS expresses gratitude to student representatives and institutions for their cooperation at the beginning of the 2024 academic year.
The University of South Africa (Unisa), the largest university in South Africa, is the only institution yet to disburse allowances to students. NSFAS explains that Unisa is finalising the determination of allowances based on the number of modules registered by students.
Unisa, being predominantly a distance learning institution, operates differently from traditional universities. Therefore, the allowances received by its students from NSFAS also vary, as students studying from home do not require accommodation or travel allowances.
NSFAS has requested universities to allow direct payment service providers to onboard students while continuing with the payment process.
The direct payment of allowances for the 2024 academic year will commence in April 2024, with universities administering payments for only two months (February and March), as the third allowances will be made through the direct payment platform. No exceptions or deviations will be permitted.
March will mark the conclusion of institutions' responsibility for paying 2024 NSFAS allowances to students. Universities are reminded that the direct payments of allowances for the 2024 academic year will begin in April 2024.
