NSFAS Releases 2024 Allowance Payment Schedule - Allowance News


Please share this article

Advertisement


Millions of students are set to benefit from the comprehensive funding provided by NSFAS in 2024. The financial aid scheme has revealed its 2024 NSFAS allowance payment plan. 


Advertisement i


NSFAS Payment Dates 2024

The National Student Financial Aid Scheme (NSFAS) has revealed its allowance payment plan for the 2024 academic year. This comes after the scheme made upfront payments amounting to billions of rands to institutions to facilitate a smooth start to the 2024 academic year. This is separate to the NSFAS allowance payments that should be made to students for their NSFAS allowances.

NSFAS offers comprehensive bursaries and student loans to deserving students enrolled in approved courses at public universities and Technical and Vocational Education and Training (TVET) Colleges. 

NSFAS Allowance News 2024

Funding from NSFAS includes money for tuition and registration fees. Students also receive several NSFAS allowances which aim to cover the costs associated with tertiary education including living expenses, learning material costs, transport costs and the cost of meals.  

The Scheme has revealed its allowance payment plan and other allowance news for the rest of the 2024 academic year. The NSFAS allowance payment dates should now be set for the year. The NSFAS allowance payment information is co-ordinated with the registration data from the university.

The institution's financial aid office should inform NSFAS of your registration, but if they don't you should speak to the NSFAS contact centre. Even if the NSFAS payment dates for the month have passed as long as its the same academic year the payment can be made up.

Upfront Payments To Universities

NSFAS disbursed R2.8 billion to universities in January 2024 to cover one month of student accommodation and the book allowance. The book allowance is calculated at half of the total cost whilst the accommodation is calculated as one month of the accommodation cost, as agree with the financial aid regulations.

The financial aid scheme also made provision for two months’ worth of allowances to assist institutions with registered medical students whose academic year began in January 2024. 

Universities were advised to utilise the funds disbursed to them in accordance with the specified allowance types mentioned above.

National Student Financial Aid Scheme News

Further upfront payments were made in February to cover the remaining allowances. This includes the second half of the book allowance, accommodation allowance for March 2024, transport allowance for February and March and a meal allowance for February and March.

Money for personal care alliances was also disturbed for February and March 2024.

How University Students Will Be Paid Their NSFAS Allowance 

NSFAS confirmed that allowances will be distributed using the direct payment method. Students must register with direct payment partners assigned to respective institutions last year as they will be utilised for the 2024 academic year.

NSFAS requested universities to pay allowances for both February and March due to challenges experienced at the beginning of the 2024 academic year. This led to delays in receiving registration data from universities.

The financial aid scheme said universities were also requested to allow direct payment service providers to conduct the process of onboarding students whilst they continue with payments.

The direct payments of allowance for the 2024 academic year will commence in April 2024 and universities will administer the payment of allowances for only two months (February and March) because the 3rd allowances will be made on the direct payment platform. 

No exceptions or deviations will be allowed.

Who Will Pay University NSFAS Allowances Going Forward?

Allowance Type 

Distribution Challenge

Book Allowance 

Institution 

Accommodation Allowance For The Non-Pilot Accommodations 

Institutions 

Private Accommodation Allowances Pilot 

NSFAS 

Food Allowance 

Direct Payment Service Provider 

Travel Allowance  Direct Payment Service Provider 

Living Allowance 

Direct Payment Service Provider

Pre-funder allowances 

Institutions

Disability Funding 

Institutions 

NSFAS Payment Dates For TVET Colleges 

NSFAS disbursed more than R580 million to TVET College for tuition fees in January 2024. An additional R1 billion was paid to pay student allowances for the first three months of 2024. 

They explained that this amount was paid due to a calculation of 20% of each institutional tuition allocation through an upfront payment. 

NSFAS urged TVET Colleges to urgently load their registration information so that payments can be made on the direct payment platform.

Who Will Pay TVET College NSFAS Allowances Going Forward?

Allowance Type 

Distribution Challenge

Book Allowance 

Institution 

Accommodation Allowance For The Non-Pilot Accommodations 

Institutions 

Private Accommodation Allowances Pilot 

NSFAS 

Food Allowance 

Direct Payment Service Provider 

Travel Allowance  Direct Payment Service Provider 

Living Allowance 

Direct Payment Service Provider

Pre-funder allowances 

Institutions

Disability Funding 

Institutions 

NSFAS is urging all institutions to upload student registration data as soon as possible to prevent delays in the distribution of funds. 

While NSFAS acknowledges the ongoing registration and funding for certain students, institutions are strongly advised not to postpone the upload of registration data for already funded students.

NSFAS added that for any erection of dual/multiple registration data, NSFAS will temporarily block transactions from students' accounts.

Affected students will then receive email and SMS notifications guiding them through the account reactivation process. Account reactivation is contingent upon receiving confirmation.

"Institutions were further advised to contact the NSFAS Servicing Administrator deployed in all institutions," said NSFAS.

Suggested Article:

NSFAS Appeal

Thousands of students who applied for NSFAS funding in 2024 were unsuccessful. The good news is that unsuccessful NSFAS applicants can submit a NSFAS appeal. 








Advertisement


WhatsApp Channel

Sponsored Ad

Advertisement

Advertisement

Google News

Post-Matric Options

 

After completing your matric certificate exams, you are faced with a lot of post-matric options that can shape your future paths.

These options range from pursuing higher education at universities or colleges, entering vocational training programs, joining the workforce, or even starting your own business. There are so many choices but we are here to help.

Advertisement


Where to Study


Advertisement m


Other Articles

Afrikaans Papers for Matrics. Past papers are a great way to prepare for your exams, so check them out below!


Advertisement


Latest SASSA articles

Millions of vulnerable rely on the SRD grant to purchase food and access basic services. Reconfirmation of their application may be required to ensure they continue receiving the grant. 

Sassa is responsible for disbursing grants to approximately 18 million South Africans every month. One of the grants distributed is Sassa child grants.


Advertisement


Careers Advice

You're student studying to towards that qualification that will get you your dream job one day, however you need cash now which means you need a student job. Here's how you can find student jobs in South Africa.


Advertisement i