Thousands of deserving students receive financial assistance through the National Student Financial Aid Scheme. A number of allowances are available to these students to cover the costs associated with their studies.
Breaking News NSFAS Reveals Allowance Payment Plan
The National Student Financial Aid Scheme (NSFAS) funds thousands of students studying at public universities and TVET colleges. NSFAS provides comprehensive funding to students, which includes tuition and registration fees. In addition, they receive a living allowance, a stationery allowance, and an accommodation allowance.
Despite delays, NSFAS assured stakeholders that TVET students had received their first round of allowances. Bursary payments were made on 10 March 2023 to students whose registration data was received.
NSFAS explained that two payment runs were made based on registration data received from TVET colleges. After 18 March 2023, students without user profiles were paid. As a result, the financial aid scheme committed to making weekly payments. Due to late registration data submitted by institutions, most students did not receive their allowances. Payments will be made to students once this information is sent.
- NSFAS has successfully made payments to TVET Colleges that have submitted registration information for students and will continue to make payments as and when information is received
In order to avoid delays in the distribution of allowances, NSFAS made upfront payments to universities and colleges on 31 January 2023. On 6 March 2023, another upfront payment was made. In this period, approximately 800,000 students received their allowances.
- The data on university payment dates showed that up to 800,000 students have been paid upfront from 31 January to 06 March 2023
NSFAS explained that these upfront payments were made while institutions were still finalizing allowance allocations and registration data claims. The allowances were also increased by 10%. Registration data, including this confirmed increase, is being loaded by institutions.
Students will not have to wait until the end of the month to receive their allowances. Weekly payments will be made four times a month. NSFAS makes payments every week.There is a 10% increase in student allowances, but the accommodation allowance remains at R4,500 per month or R45,000 per year.