Thousands of NSFAS-funded students can breathe a sigh of relief as the National Student Financial Aid Scheme (NSFAS) implements a plan to address recent allowance delays. Some institutions have partnered with NSFAS to ensure students receive their allowances.
NSFAS is a crucial financial aid program in South Africa, providing bursaries and loans to eligible students enrolled in approved courses at universities and TVET Colleges. This funding goes beyond just tuition and registration fees. NSFAS students receive regular allowances to cover essential living expenses like accommodation, food, and learning materials.
These NSFAS allowance delays have caused significant stress for students who depend on NSFAS allowances to cover essential expenses like food and rent.
NSFAS acknowledges the hardship these recent delays have caused and is taking steps to ensure students don't face financial difficulties. Recognizing the urgency, NSFAS collaborated with universities to develop a solution.
New Payment Plan for NSFAS Allowances
Following discussions with university representatives, NSFAS has authorized some universities to distribute outstanding and upcoming allowances. This plan addresses:
- Outstanding Allowances: Covers any unpaid allowances for April 2024.
- Upcoming Allowances: Includes May and July 2024 allowances.
Timely Disbursement
Universities completed disbursing outstanding allowances by Tuesday, April 16, 2024. They will now distribute allowances on the last day of each month until July 2024 to ensure consistent financial support for students.
Outstanding April allowances will be paid by Tuesday, 16th of April 2024. May-July allowances will be paid by the last day of each month.
Universities will continue processing payments while NSFAS works towards a permanent solution to prevent future delays.
In the meantime, the student's cooperation and understanding will be highly appreciated as the University processes payments and continues to engage NSFAS.
