Check Out How NSFAS Will Pay July Allowances

For the 2023 academic year, the National Student Financial Aid Scheme (NSFAS) has granted funding approval to over one million students. In the upcoming months, there will be a change in the disbursement process of allowances for university students through the financial aid scheme.The National Student Financial Aid Scheme (NSFAS) MasterCard will be available to university students in July 2023. A new payment solution is being implemented by the financial aid scheme.

Check Out How NSFAS Will Pay July Allowances

In July 2023, students who have registered for their NSFAS bank accounts will get their allowances directly from the scheme.Financially disadvantaged students at public universities around South Africa can apply for NSFAS bursaries. Tuition and registration fees are covered by NSFAS.

NSFAS also pays several allowances to students. There’s an accommodation allowance, a living allowance, and a learning material allowance. You can get a transport allowance if you don’t get the accommodation allowance. Students used to get allowances from universities and service providers. NSFAS will start paying allowances directly to students in 2023, so this won’t be the case anymore.

With the new direct payment solution, NSFAS will have more control over when students get their allowances. With the NSFAS MasterCard, students get value-added services, the ability to make online purchases, tap-to-pay functionality, and a virtual card to pay securely.NSFAS allowances will be paid to students living with disabilities by the institution they attend, not the service provider.The new payment solution was brought to students by several service providers. Students will need to register with a service provider based on their university.