NSFAS Has Disbursed Allowances to Universities since the start of the Academic Year.
NSFAS NEWS -The Minister of Higher Education, Blade Nzimande, aimed to answer the ‘when will we get our NSFAS allowances’ questions in his briefing on Friday.
Nzimande said that NSFAs has disbursed allowances to 623 386 students and that this will grow:
This number is likely to increase as a result of the TVET’s term 2 intake and semester 2 as well as the third term. A further increase is expected from the outcome of data remediation processes conducted by NSFAS.
The Minister then said that two payments have already been made to Universities since the start of the academic year.
he first payment of R7.9 billion was made on 9 April to cover March and April NSFAS allowances. The second payment of R6.9 billion was made on 10 June to cover May, June and July NSFAS allowances.
As for TVET Colleges, NSFAS made upfront payments to colleges since February 2021. These payments are calculated for 20% of tuition fees. NSFAS has received 90% of expected registration data from TVET Colleges.
NSFAS has paid 183 422 TVET students their NSFAS allowances so far. There are 20 950 students still need to resolve missing requirements for their allowances to be approved and then paid.
Students are encouraged to use the myNSFAS portal to see updates about their funding status and allowances. You are also encouraged to contact your institution should you have further questions.
NSFAS found that 1.2 million students were eligible for funding. However, not everyone qualified for funding due to them not getting into a University or TVET College.
According to the 2021 funding status report, of the 839 130 applications received, 722 252 were found to be funding eligible, while 55 945 applications were unsuccessful, as they did not meet the funding eligibility criteria.
NSFAS is said to also be working on fraud which sees students falling prey to criminals wishing to commit fraud and steal students’ NSFAS allowances.