The National Student Financial Aid Scheme (NSFAS) has begun the process of paying allowances to Technical and Vocational Education and Training (TVET) College students.
NSFAS provides comprehensive bursaries and student loans to deserving learners enrolled in approved courses at universities and TVET colleges. This funding not only includes money for tuition and registration fees but also includes several allowances for food, accommodation and learning materials.
The scheme recently introduced a new allowance payment system to address ongoing payment challenges. The new system uses a direct bank deposit system.
NSFAS has devised a payment mechanism to address the ongoing allowance payment challenges through its internal banker. All TVET College Students Funded by NSFAS can receive their allowances through a bank account of their choice with any bank.
TVET college students funded by NSFAS were encouraged to upload their bank details on the myNSFAS website to ensure they will receive their NSFAS allowances from 25 May 2024.
Students who have not already uploaded their bank details are encouraged to do so without delay.
How To Upload Your Bank Details For NSFAS Allowances
- Visit the myNSFAS portal: https://www.nsfas.org.za/
- Log in using your myNSFAS credentials.
- Under "Profile Information," select "Bank Account Details."
- Enter your bank details from your chosen bank.
- Click "Save."
NSFAS will verify the submitted information directly with your bank.
It's important to note that this direct payment system replaced the NSFAS bank account facilitated by Fintech service providers. This means that students are no longer required to use their black NSFAS bank card and connect to their NSFAS bank account.
Do not use the previous NSFAS Direct Payment Black Card
