NSFAS Urges TVET Students to Submit Banking Details for Allowances

Nomvalo stated that NSFAS has implemented a new payment mechanism for TVET students, which involves direct payments to the students’ bank accounts.

The National Student Financial Aid Scheme (NSFAS) has reiterated its call for students at Technical Vocational Education and Training (TVET) colleges to submit their banking details to receive their NSFAS allowances. This was emphasized by NSFAS Administrator Freeman Nomvalo during a media briefing in Pretoria on Monday, which addressed the disbursement of student allowances, student accommodation, and other administrative reforms.

Nomvalo stated that NSFAS has implemented a new payment mechanism for TVET students, which involves direct payments to the students’ bank accounts. This system was announced on April 26, 2024. To date, 211,591 students' bank accounts have been verified, while 7,160 accounts failed verification due to various issues, such as students providing their parents' bank account details instead of their own.

Nomvalo emphasized the importance of students providing their own bank account details to ensure proper verification and minimize risks. He urged TVET students without bank accounts to open one with a bank of their choice to avoid delays in receiving their allowances. Students who have already submitted their details and received a notification of failed verification are advised to resubmit their correct banking details through the myNSFAS portal.

While acknowledging the challenges faced by university students, Nomvalo mentioned that the direct payment mechanism will currently apply only to TVET college students. University students will continue to receive their allowances through their institutions as previously arranged.

Addressing Student Accommodation Concerns

Nomvalo also addressed issues related to student accommodation, particularly the outstanding payments to private student accommodation landlords. NSFAS has established a dedicated email and additional capacity to handle all disputes and concerns from landlords regarding outstanding payments.

Landlords are encouraged to submit their concerns to NSFASAccomProv@nsfas.org.za by the extended deadline of May 31, 2024. All inquiries will be processed, with payments expected by the end of May 2024. Any remaining outstanding invoices will be processed in June.

In proactive planning for future student accommodation, NSFAS is organizing a national conference on student accommodation in September 2024, involving stakeholders from both private and public accommodation sectors. A Task Team has been formed to address all issues related to student accommodation and is expected to report back at the conference.

Additional Capacity to Address Deficiencies

Nomvalo also announced that additional capacity would be procured by the end of May to strengthen the Administrator’s office, address capacity deficiencies, and handle long-outstanding matters, including the submission of financial statements and the Close Out Report. This move aims to enhance the efficiency and effectiveness of NSFAS operations, ensuring better service delivery to students and stakeholders.

Conclusion

NSFAS’s efforts to streamline the disbursement of allowances and address accommodation issues underscore its commitment to supporting students and ensuring the smooth operation of the financial aid system. Students and stakeholders are encouraged to comply with the guidelines and deadlines to facilitate these processes.