In todays latest NSFAS News – NSFAS To Make Upfront Payment for Student Registration Fees. The 2023 school year is about to begin, and in the next few days thousands of students will be returning to their campuses. The recent news from the Minister of Higher Education will make life easier for NSFAS recipients once they return to school.
While students wait for the results of their bursary applications, the National Student Financial Aid Scheme (Nsfas) will issue advance Nsfas payments to educational institutions. As a result, students won’t have to hold back until their registration fees are paid.
This was announced earlier this week by Higher Education and Training Minister Blade Nzimande at a briefing on the readiness of the Post-Secondary Education Sector for the next year.
Nzimande said that Nsfas will pay public universities in advance for students’ registration, tuition, and room and board. While waiting for the Nsfas bursary decisions, this will help students financially.
Minister Bains elaborated:
NSFAS will pay schools ahead of time to cover things like registration, tuition, and living expenses for students while they wait to hear back about their application.
As Nzimande explained, Nsfas is currently working to finalize the upfront payment plan. According to the Minister, the funds would be transferred to the respective institutions by the end of January 2023.
Payments to universities and TVET colleges will be made in full by the end of January, as the minister previously stated.
According to Nzimade, this implies that all schools will automatically register students who get financial aid through Nsfas without requiring them to pay a separate registration fee.
Nsfas announced in 2022 that between February and April 2023, they would be able to pay the allowances of all Nsfas-funded students, a total of R3.5 billion.
Applying for Nsfas aid by students across the country will be possible until the end of January 2023. Full scholarships are available to those who are selected. Grants from Nsfas can be used to pay for both school and living expenses. A student will be provided with a book stipend, lunch allowance, and transportation allowance.