NSFAS latest News Today 17th March 2023
In todays latest NSFAS News – National Student Financial Aid Scheme recipients rely on allowances for basic living expenses like food, study supplies, and transportation. As part of the financial aid program, students have been given guidance on how to protect their allowance money from being stolen.
Students are cautioned by the National Student Financial Aid Scheme (NSFAS) not to disclose any sensitive information.
The financial aid program issued the advisory after learning of several websites and social media groups with the same goal.
Some people are trying to get students’ personal information, as the financial aid scam makes clear. People can use this data to steal student aid money from the NSFAS.
The NSFAS has been made aware of fraudulent websites that pose as legitimate resources for students in order to steal personal information from them, such as login credentials and the promise of assistance with withdrawing allowances from various payment partners.
Students were reminded by the financial aid system that neither NSFAS nor their payment partners would ever ask for private information. They expressed concern that students could fall victim to scams.
NSFAS introduced a new method of disbursing allowances to students in 2023, with the issuance of NSFAS Mastercards. They collaborated with four distribution partners to get this payment option to students, and those partners were Coinvest, eZaga, Norraco, and Tenet Technology.
Fraudsters, according to NSFAS, are posing as these distribution partners in an effort to phish for student information.
NSFAS and its payment partners will never ask a student for their login information, so please be aware that this is a scam.
Students should report any requests for their personal information to the proper authorities, NSFAS advised.
Without any hesitation, the relevant authorities must be informed of any such request.
Students from low- and middle-income families can apply to NSFAS for a variety of bursaries that will help them pay for college.
Tuition and registration fees will be paid for by NSFAS, and the agency will also provide students with a number of allowances designed to help defray the cost of attending college.