Acting Chairperson, Prof. Lourens Van Staden, for the National Student Financial Aid Scheme (NSFAS) hosted a media briefing on Monday morning and gave an update about the payment of 2024 NSFAS allowances.
Across South Africa, students have said that their NSFAS allowances are delayed and that this is negatively impacting not only their studies, but their daily lives as well. Now, NSFAS has said that NSFAS allowances are currently being paid.
Van Staden explained that the delays in the 2024 academic year are largely due to registration details delays. Institutions which have already submitted registration data will be paid by Friday, 8 March, for the latest.
When 2024 NSFAS Allowances Are Paid
Van Staden said that the majority of the institutions committed to paying students by the last week of February. Here's a breakdown of when NSFAS allowances will be paid by institutions:
- CPUT - 29 February
- CUT - 1 March
- DUT - 29 February
- MUT - Currently processing allowances
- NMU - 1 March
- Nwu - 1 March
- Rhodes - 28 February
- SMU - 4 March
- SPU - 26 February
- TUT - 4 March
- UCT - Two payment dates, 17-26 February and 1 March
- UFH - 26 February
- UFS - Allowances are currently being processed
- UJ - 7 March
- UKZN - 8 March
- UL - 26 February
- UMP - 1 March
- UP - 4 March
- Unisa - 4 March
- Stellenbosch - Two payment dates, 29 February and 5 March
- UWC - Two payment dates, 23 February and 1 March
- Wits - 1 March
- Univen - 26 February
- Unizulu - 1 March
- VUT - Currently in engagement with NSFAS
- WSU - 23 February
How 2024 NSFAS Allowances Will Be Paid
For February and March, universities will pay allowances to students and TVET Colleges will use the direct payment system. Then, from April onwards, the direct payment system will be used to pay NSFAS allowances.
The board took a decision to request institutions in the interim to operate as a channel to pay the February and March allowances.
"Allowances will be distributed using the direct payment methods … the direct payment partners assigned to the respective institutions last year will be utilised for the 2024 academic year," said Van Staden.
NSFAS has made two upfront payments to all institutions, one on 31 January and another on 29 February. The Acting Chairperson made it clear that this doesn't include tranche payments which will be paid at the beginning of April to institutions.
Universities received R2.8 billion and TVET Colleges received R580 150. An additional billion rand was paid to cover 3 months worth of NSFAS allowance payments for January to March.
These upfront payments are to cover registration fees as well as NSFAS allowances. This would include the book allowance, calculated for half of the academic year cost, accommodation allowances for one month and medical students received two months worth of allowances as they have an earlier start to the academic year.
The second upfront payment being paid sits at a total of R2.1 billion to cover NSFAS allowances, including accommodation allowances, travel allowances, personal care allowances, living allowances for February and book allowances for the second half of the year.
