National Student Financial Aid Scheme (NSFAS) university beneficiaries will soon benefit from having a bank account from the scheme.
NSFAS revealed it will start paying allowances directly to students starting in July.
“NSFAS has confirmed funding for over 1-million students for the 2023 academic year. This is the first time the scheme will get to simultaneously disburse funding for tuition and allowances to such a large number of students.
“NSFAS has devised a system to cater for the ever-increasing number of beneficiaries, and to ensure that they receive allowances in a seamless and secure way through the new bank account,” said the financial aid scheme.
The bank account was introduced in 2022 for students in TVET colleges and will now roll out to university students.
What you need to know about the NSFAS bank account rolling out to university students
Image: Nsfas/Twitter
National Student Financial Aid Scheme (NSFAS) university beneficiaries will soon benefit from having a bank account from the scheme.
NSFAS revealed it will start paying allowances directly to students starting in July.
“NSFAS has confirmed funding for over 1-million students for the 2023 academic year. This is the first time the scheme will get to simultaneously disburse funding for tuition and allowances to such a large number of students.
“NSFAS has devised a system to cater for the ever-increasing number of beneficiaries, and to ensure that they receive allowances in a seamless and secure way through the new bank account,” said the financial aid scheme.
The bank account was introduced in 2022 for students in TVET colleges and will now roll out to university students.
How do I activate the NSFAS Mastercard?
What are the benefits?
The account comes with benefits and financial freedom for students. After registering, beneficiaries will receive a virtual or physical card which will allow them to:
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