NSFAS announces when students will receive allowances in 2024

In a recent announcement, the National Student Financial Aid Scheme (NSFAS) has assured students that allowances for both universities and Technical and Vocational Education and Training (TVET) colleges will be disbursed on schedule for the 2024 academic year.

NSFAS will pay allowances for university students by the end of February 2024. It will disburse allowances for TVET college students by 6 March. This is pending the successful upload of registration information by colleges by 28 February.

To facilitate a smooth process, NSFAS has encouraged students to work closely with their respective institutions. This collaboration is essential in ensuring that the payment processes run seamlessly.

NSFAS implements direct payment method

Earlier this month, NSFAS announced that it will distribute allowances using direct payment methods. The organisation confirmed it will continue utilising the direct payment partners assigned to institutions in the previous academic year for 2024.

Acknowledging challenges faced at the start of the academic year, NSFAS requested universities to facilitate allowance payments for February and March due to delays in receiving registration data.

“Universities were also requested to allow direct payment service providers to conduct the process of onboarding students whilst they continue with payments,” said NSFAS.

NSFAS commencement of disbursement of 2024 allowances

The disbursement of allowances for the 2024 academic year will commence in April 2024. Universities will only administer payments for two months (February and March). The direct payment platform will process the third allowances without exceptions or deviations.

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