NSFAS Warns Students of Bank Verification Scam

The National Student Financial Aid Scheme (NSFAS) has issued a warning to students about phishing scams involving SMS requests for bank verification.

NSFAS provides bursaries and student loans to eligible students at universities and TVET colleges, covering tuition, registration, and allowances for food, accommodation, and learning materials.

In 2025, close to a million students will receive NSFAS funding. University students will be paid through their institutions, while TVET College students will receive direct payments.

We have been made aware of an ongoing cyber scam targeting NSFAS-funded students. Scammers are sending SMSes and emails to students requesting they verify their banking details through a link,

NSFAS emphasised that their services are free and warned students not to share personal or myNSFAS details or make payments to unknown sources.

Please remember that NSFAS services are free. We will never ask you to pay a fee for assistance with your enquiries.

How NSFAS Pays Allowances

University Students

Universities handle NSFAS allowance payments. Although NSFAS planned direct payments to students’ personal accounts, a court case has delayed implementation.

TVET College Students

TVET students are paid directly by NSFAS. Students must upload their bank details on the myNSFAS portal to receive payments. Only students with confirmed funding and registration can submit bank details.

Steps to Upload Banking Details (TVET Students)

1. Visit the myNSFAS portal

2. Log in with your myNSFAS credentials

3. Go to “Bank Account Details” under “Profile Information”

4. Enter your banking information

5. Click “Save”