The exact timing of payments towards tuition fees and other related costs may vary depending on the specific arrangements between the National Student Financial Aid Scheme (NSFAS) and a public institution of higher learning.
NSFAS has released its funding list for the 2023 academic year. This list consists of both returning students and first-time students.
Institutions will be able to confirm which students will be funded by NSFAS by checking on the funding list which is available and accessible to them on the Scheme’s portal.
However, NSFAS has indicated that the list is part of an ongoing redress process that reviews appeals against third-party information.
This process is necessary so that the bursary scheme will be able to ensure that all of those who are in need of financial aid are able to access funding.
Over the years, the demand for financial support amongst tertiary students has increased and approximately 1.6 million students applied for funding for the 2023 academic year.
NSFAS has revealed that this is the first time that the Scheme will get to simultaneously disburse funding for tuition and allowances to such a large number of students.
Here Are The Student Allowances That NSFAS Provides To Its Bursary Recipients:
- Learning materials or devices
- Traveling
- Food
- Accommodation
- Personal care
- Living expenses
Visit the NSFAS website for more information about the bursary.
When Will NSFAS Allowances Be Paid Into New Bank Accounts?
As of June 2023, NSFAS-funded university students will receive their allowances via the new NSFAS Bank Account.
The NSFAS Bank Account is a collaboration with financial service providers and offers mobile banking services, an option to save and manage allowance funds, and advanced security measures to protect beneficiaries from fraud and theft.
Students were encouraged to register online before June 2023 to ensure their funds are deposited directly into their accounts.
The government bursary scheme has confirmed that students living with disabilities will still receive funds through their enrolled institutions.
