Students Urged To Upload Bank Details For NSFAS Allowances



Thousands of students could potentially miss out on their June 2024 NSFAS allowances. They are urged to upload their banking details to prevent allowance payment delays. 



The National Student Financial Aid Scheme (NSFAS) is urging all students to submit their banking details on the myNSFAS portal as soon as possible. Failing to do so could result in delays receiving your allowance.

NSFAS provides comprehensive bursaries and student loans to deserving learners enrolled in approved courses at universities and TVET colleges. The funding includes money for tuition and registration fees as several allowances for living expenses, accommodation and learning materials. 

New System: Allowances Paid Directly to Your Bank

In May 2024, NSFAS announced a change in how TVET college students receive their allowances. Students can now choose a bank and have their allowances deposited directly. However, to ensure timely payments, students need to upload their chosen bank account details on the myNSFAS portal.

Avoid Delays: Verify Your Bank Details

During the May 2024 payment cycle, over 7,000 TVET college students faced delays due to unverified banking information. To prevent similar delays, NSFAS Administrator Freeman Nomvalo encourages all students:

  • Open a bank account: If you don't have one yet, open an account at a bank of your choice.
  • Submit accurate details: Upload your bank details on the myNSFAS portal. Only accounts in your name will be accepted.

Timely Allowances for a Stable Education System

Timely access to allowances is crucial for student success and program stability. NSFAS is committed to improving its efficiency and ensuring all students receive their funding on time. Uploading your correct bank details is an essential step in this process.

Steps to Upload Your Bank Details

Visit the myNSFAS portal

  1. Log in using your myNSFAS credentials.
  2. Under "Profile Information," select "Bank Account Details."
  3. Enter your bank details from your chosen bank.
  4. Click "Save."

By submitting your accurate banking information, you'll help ensure you receive your NSFAS allowance on time.

Suggested Article:

NSFAS paying allowances

More than one million students rely on NSFAS allowances on their tertiary education journey. NSFAS confirmed that a new allowance payment system will be implemented in September 2024. 




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