NSFAS CONFIRMES THE PAYMENT OF 9128 OUTSTANDING STUDENT ALLOWANCES.
Written by Neo Molefi on January 19, 2024
Written by: Tasha Siziba
The National Student Financial Aid Scheme (NSFAS) is in procedures to finalize unpaid allowance payments for the 2023 academic year by analysing data from institutions.
NSFAS confirms that 9128 of the 20,000 outstanding allowances have been settled, with the remaining 11,000 allowances set to be processed in 2024 as part of the regular payment process.
NSFAS spokesperson Ishamel Mnisi, insists that the delays in the payment of allowances is due to delays in the submission of registration data by universities.
“The funding scheme’s mandates registration details for eligible students studying funded qualifications by March 31st, 2024, considering late submission’s impact on allowance disbursement.”
Mnisi says Universities cannot modify allowance types during an academic term without NSFAS approval, which requires budgetary approval and claim submission.
2024 application process
NSFAS received 1,406,189 applications as of January 15, 2024, with close to 1 000 000 expected before the end of the 2024 application period on January 31, 2024.
NSFAS requires applicants to provide consent forms from their parents, guardians, or spouses to verify their employment position and income level, which can be obtained through the NSFAS mobile app or website.
Candidates awaiting application data, financial eligibility, and evaluation should wait for instructions from NSFAS. Accepted SASSA financing recipients don’t need to submit the form. Failure to submit the consent form may delay application completion, as it ensures compliance with SARS regulations.
Implementation of the first phase of the comprehensive student funding model
Higher Education Minister, Blade Nzimande announced earlier it would start to provide loans to students from households with an annual income above R350,000 and R600,000 but who still cannot afford their studies the missing middle.
The government has provided R3.8 billion for a 2024 loan scheme, with the National Skills Fund and Sector Education and Training Authorities contributing R1.5 and R2.3 billion respectively.
NSFAS spokesperson Ishamel Mnisi NSFAS is currently developing the loan scheme eligibility criteria and conditions for funding.
Implementation of the Accommodation Pilot Project
For the 2024 academic year, the NSFAS decided to test the student housing project in seventeen (17) universities and twenty (23) TVET colleges.
NSFAS will make sure that student housing service providers give all students access to good, safe, and academically supportive housing through this process.
NSFAS distributes a list of accredited housing providers for each university, evaluating facilities, safety protocols, and adherence to regulations. The organization aims to combat inadequate housing and ensure equitable remuneration.
Educational institutions are requested to provide a list of financed students for housing application.
According to NSFAS, these remaining allowances are as a result of delays in the submission of registration data by universities.