Thousands of NSFAS-funded students are on edge for NSFAS allowance updates as this year has brought many challenges and changes along with it so far. Now, students can have some relief as the National Student Financial Aid Scheme (NSFAS) has revealed how NSFAS allowances will be paid for August 2024.
Changes to Payment Methods
- University Students: NSFAS allowances will continue to be disbursed through your university until December 2024. This extends the initial July deadline.
- TVET College Students: NSFAS allowances will be deposited directly into your bank accounts. Make sure you have a valid bank account set up!
How TVET Students Can Update Bank Details
For TVET students who need to update their bank account information, the process is straightforward. Simply follow these steps:
- Visit the myNSFAS portal (https://my.nsfas.org.za/)
- Log in using your myNSFAS credentials.
- Under "Profile Information," select "Bank Account Details."
- Enter your bank details and click "Save."
The black NSFAS Direct Payment Card is no longer valid. NSFAS has ended contracts with those service providers.
