The National Student Financial Aid Scheme (NSFAS) recently confirmed its allowance payment method for TVET College students for the 2025 academic year. several steps must be taken by TVET College students before they will receive NSFAS allowance payments.
NSFAS provides comprehensive bursaries and student loans to deserving students enrolled in approved courses at universities and TVET colleges. NSFAS funding covers tuition and registration fees, as well as several allowances for food, accommodation, and learning materials.
Last week, NSFAS announced that it will continue paying allowances directly to TVET College students using their in-house banker. The system was introduced in 2024 following the termination of direct payment service providers.
The allowances payment channel for TVET College students remains their bank accounts.
NSFAS administrator Freeman Nomvalo highlighted the key advantages of the new system including its cost efficiency and improved stability.
Steps To Accessing NSFAS Allowances For 2025
NSFAS confirmed that only students with confirmed funding and submitted registration data are eligible to add banking details.
This means that students must register for their 2025 course as soon as possible as this information will be sent by institutions to NSFAS.
NSFAS said it will open the myNSFAS manager portal in January 2025 which allows TVET Colleges to upload registration data for students. Students are encouraged to ensure they complete their registration prior to 13 January 2025 to receive timely NSFAS allowances.
Thereafter all payments will be made based on valid registration data submitted by colleges, where the tuition upfront payment advanced will be first knocked off.
Uploading Bank Details For NSFAS Allowances
Students can update their banking details on the myNSFAS portal by following these simple steps:
- Visit the myNSFAS portal
- Log in using your myNSFAS credentials.
- Select "Bank Account Details" under "Profile Information."
- Enter your bank details accurately.
- Click "Save."
NSFAS says students can minimise potential disruptions in receiving their allowances by ensuring their profiles are up-to-date and submitting their banking details on time.
The government bursary scheme added that new students must be encouraged to open up banking accounts in order to receive timely allowance payments.
Colleges should encourage new NSFAS-qualifying students to open bank accounts at any of the South African banking institutions.
