NSFAS News Updates for September 2023
In todays latest NSFAS news – It may take a bit longer for students who have been granted funds through the National Student Financial Aid Scheme to use their allowances. This is due to the fact that they have to finish an authentication check.
On Monday afternoon, the National Student Financial Aid Scheme (NSFAS) gave a media briefing to inform the public of the present situation with the financial aid program. The difficulties with the new payment system, the defunding of students, and streamlining student housing were discussed by officials.
According to the financial aid program, all bursary applications it received for the academic year 2023 have been completed, and candidates have been informed of their funding decisions. Successful NSFAS applicants will get full financing under the program.
NSFAS will cover the tuition and registration expenses for students it funds, so they won’t have to worry about the price of their education. Additionally, many NSFAS allowances will be given to students to help with the expenditures of their education.
An lodging stipend, a living allowance, and a learning material allowance are among the NSFAS benefits given to students.
According to Earnest Khosa, the chair of the NSFAS Board, students won’t start receiving financing until their university sends NSFAS the registration data for them. When a student’s application is approved, their allowances will be paid to them via the new direct payment system or NSFAS bank account.
As soon as a student is given approval for funding, a bank account is opened with their information, and before they can access their money, they must verify.