NSFAS DIRECT PAYMENT SOLUTION LAUNCH
Bursaries from the National Student Financial Aid Scheme (NSFAS) help pay for necessities like food, books, and transportation so that students can focus on their studies.
Due to the current system where these allowances are paid by third parties, problems such as unlawful access to beneficiary allowance, lack of physical verification leading to probable payments to ghost beneficiaries, inaccurate payments, and possible duplicate payments have arisen.
NSFAS then looked for a different, more reliable and beneficiary-centric method, whereby students would get their allowances directly from the system via the NSFAS bank account. To further the organization’s digital transition, beginning in the 2023–2024 school year, all NSFAS recipients at universities and TVET colleges will begin receiving their allowances and transacting through the NSFAS bank account.
The NSFAS Direct Payment Solution will be launched, and the media is welcome to attend.
Time and day: it’s November 18th, 2022, a Friday Time: 10h00 Meeting place: Mfolozi TVET College, Central Office, 06 Naboomnek Street, Arboretum Richards Bay.
The NSFAS Board Chair, NSFAS CEO, and Executive Director will all be present during the launch.