Nsfas Students Urged To Open Nsfas Bank Accounts

In 2022, the National Student Financial Aid Scheme (Nsfas) announced the introduction of its new direct payment method for student allowances, through the Scheme’s Mastercard. 

According to Nsfas spokesperson, Kagisho Mamabolo said as part of introducing the new payment solution, there are plans to equip students with the necessary tools to navigate this new journey with ease. 

Nsfas-funded students will be provided with a card and a bank account where monthly allowances will be disbursed directly. However, in a statement, the Scheme has shared:

All beneficiaries have been encouraged to register for the Nsfas Bank Account to enable the Scheme to pay their allowances.

Students have also been advised to urgently visit the Nsfas website and social media platforms where they can sign up online.

It will be through the Nsfas Mastercard that student allowances will be accessed for both public university and Technical Vocational Education and Training (TVET) College students who have received funding for their education for the current academic year.

According to Mamabolo, the new payment solution will be introduced with the assistance of the third-party financial services providers and this will be done through selected distribution partners such as Coinvest, eZaga, Morocco and Tenet Technology.

Students have been advised to onboard themselves onto the Nsfas Bank Account.

These are the institutions that will be onboarded by Coinvest:

1. Capricorn College
2. East Cape Midlands
3. Gert Sibande FET College
4. Ikhala Public Further Education and Training
5. Majuba College
6. Mnambithi FET College
7. Mthashana FET College
8. Nkangala FET College
9. Northlink College
10. Port Elizabeth College
11. Tshwane South College
12. Umfolozi College
13. Vuselela FET College

Students studying at the below institutions, will need to visit the Tenet Technology website to onboard themselves onto the NSFAS Bank Account via Tenet. 

1. Central Johannesburg College 
2. College of Cape Town
3. Elangeni College
4. Goldfields FET College
5. Letaba FET College
6. Lovedale Public FET College
7. Mopani South East FET College
8. Northern Cape urban FET College
9. Orbit FET College
10. Sedibeng College
11. Taletso FET College
12. Waterberg FET College
13. Western College

Students studying at the following institutions may onboard themselves with One of the Nsfas partners, Norraco, by clicking on this link Narroco official website:

1. Bolang College 
2. Buffalo City College
3. Ehlanzeni FET College
4. Ingwe Public FET College
5. King Hintsa Public FET College
6. King Sabata Dalindyebo FET College
7. Lephalale FET College
8. Motheo FET College
9. Northern Cape Rural FET College
10. South Cape College
11. Tswane North College
12. Umgungundlovu FET College

When it comes to students studying at the following institutions, they can onboard themselves by clicking on the eZaga website.

1. Coastal KZN FET College
2. Ekurhuleni East College 
3. Ekurhuleni West College
4. Esayidi FET College
5. False Bay College
6. Flavius Mareka FET College
7. Maluti FET College
8. Sekhukhune FET College
9. South West Gauteng College
10. Thekwini FET College
11. West Coast College

Students have been urged to download the allocated partner’s mobile app and thereafter, they will be able to perform EFT transactions.

The Nsfas Mastercard will afford bursary recipients the control over their finances and teach them financial responsibility.