The National Student Financial Aid Scheme (NSFAS) has confirmed how NSFAS allowances will be paid to students for July 2024. This announcement impacts all students who benefit from NSFAS funding.
NSFAS provides comprehensive financial aid to deserving students through bursaries, loans, and allowances covering living expenses, learning materials, and accommodation.
This financial aid is only provided to students enrolled in approved courses at public universities and Technical and Vocational Education and Training (TVET) colleges in South Africa.
How NSFAS Allowance Payments Will Work For July 2024
University Student Allowances
Following extensive discussions with university sector stakeholders, NSFAS has authorised universities to distribute allowances. This includes allowance payments for July 2024.
TVET College Student Allowances
From May 2024, NSFAS will distribute allowances directly into TVET College Students' bank accounts. NSFAS emphasised that all TVET college students must have their bank accounts.
Black NSFAS Bank Card No Longer Used
Students were previously required to upload their bank details on the myNSFAS portal to ensure timely allowance payments. Those who received notifications of failed banking verifications must update their details promptly on the portal.
These new NSFAS allowance payment arrangements for university and TVET college students replace the previous NSFAS Direct payment method, rendering the NSFAS Direct Payment Black Card obsolete. NSFAS confirmed the termination of service provider contracts.
How TVET Students Can Upload Bank Details
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Visit the myNSFAS portal.
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Log in using myNSFAS credentials.
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Select "Bank Account Details" under "Profile Information."
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Enter bank details from their chosen bank.
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Click "Save."
Accommodation Allowances
NSFAS is determined to pay accommodation allowances directly to private accommodation landlords. The scheme called on landlords to submit their claims to the dedicated email address [email protected].
The next tranche of payments is scheduled to be released by 18 June 2024, aiming to clear all legitimate claims and provide relief to landlords.
NSFAS has urged landlords not to evict students while awaiting allowance payments.
