The National Student Financial Aid Scheme (NSFAS) has revamped their allowance payment system to offer faster and more convenient direct bank deposits.
Starting on 25 May 2024, TVET College NSFAS allowances (including food, accommodation, and learning materials) will be deposited directly into students' chosen bank account.
All TVET College Students Funded by NSFAS can receive their allowances through a bank account of their choice with any bank.
Students who don't have a bank account yet are encouraged to open one as soon as possible and they can select a bank that best suits their needs.
NSFAS has devised a payment mechanism to address the ongoing allowance payment challenges through its internal banker. Do not use the previous NSFAS Direct Payment Black Card.
Submit Your Banking Details
To ensure a smooth transition and timely payments, NSFAS urges all TVET students to submit their banking details through the secure myNSFAS portal by 20 May 2024.
Here's how to submit your banking details:
- Visit the myNSFAS portal
- Log in using your existing myNSFAS credentials.
- Under "Profile Information," select "Bank Account Details."
- Carefully enter your bank details from your chosen financial institution.
- Click "Save."
Only students with confirmed NSFAS funding and submitted registration data can upload banking details. NSFAS will verify all submitted bank accounts directly with the bank.
TVET College principals and Student Support Services are available to assist students with uploading their banking details. Don't hesitate to reach out if you encounter any difficulties.
