The National Student Financial Aid Scheme (NSFAS) has confirmed how NSFAS allowances will be paid to students for October 2024.
NSFAS provides comprehensive bursaries and student loans to deserving learners. These bursaries cover tuition and registration fees, as well as several allowances for food, accommodation, and learning materials.
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 October 2024
University Student Allowances
In April 2024, NSFAS unveiled plans that would give Universities the responsibility for the payment of NSFAS allowances to students until the end of July 2024. However, the government bursary scheme revealed that universities will continue to pay NSFAS allowances until the end of the year.
Following a meeting between Universities South Africa (USAF) and the NSFAS Administrator, Mr F Nomvalo, NSFAS has decided that university students' allowances will continue to be distributed allowances through universities for the remainder of the 2024 academic year.
Updates On Proposed NSFAS Allowance Payment System
In May, NSFAS Administrator Freeman Nomvalo revealed that a new system for allowance payments will be fully developed by September 2024. It remains unclear whether this will remain the case after the scheme’s confirmation that universities will continue disbursing NSFAS allowances to students.
Further information regarding allowance distribution channels for the 2025 academic year will be communicated later.
Black NSFAS Bank Card No Longer Used
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.
Related Link: Find out all about NSFAS applications for 2025
