The National Student Financial Aid Scheme (NSFAS) recently confirmed its allowance payment plan for the 2024 academic year.
NSFAS provides funding including the money for tuition and registration fees. They also include several NSFAS allowances for students that aim to cover the costs students will incur during their quest to obtain a tertiary education qualification.
The scheme confirmed that allowances will be distributed using the direct payment method in 2024. However, this will only come into effect later in the year after alternative arrangements are made with universities.
How Allowances Were At The Start Of 2024
At the beginning of 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.
NSFAS has warned that no deviations from this will be allowed.
No exceptions or deviations will be allowed.
The direct payments of allowance for the 2024 academic year will commence in April 2024.
Universities were responsible for administering the payment of allowances for only two months (February and March) because the 3rd allowances will be made on the direct payment platform.
Who Will Pay NSFAS Allowances To University Students?
|
Allowance Type |
Distribution Channel |
|
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 |
