NSFAS Seeks Former Students Owed Loan Refunds

NSFAS Administrator Professor Hlengani Mathebula said the scheme has a responsibility to ensure that anyone who overpaid receives the money owed to them.

The National Student Financial Aid Scheme (NSFAS) is trying to locate former beneficiaries who may be entitled to refunds after overpaying their student loan accounts. The refunds mainly relate to historical NSFAS loan accounts from before 2010. According to the scheme, some former students paid more than they owed due to adjustments linked to historical interest calculations.

NSFAS previously launched a refund campaign in 2015 and successfully resolved most cases. A number of former debtors, however, could not be reached because their contact information was outdated at the time. The organisation has now obtained updated contact details through approved data sources and is making another effort to reconnect with affected individuals.

Former beneficiaries urged to respond to official communications

NSFAS Administrator Professor Hlengani Mathebula said the scheme has a responsibility to ensure that anyone who overpaid receives the money owed to them. He said fairness, accuracy and transparency remain central to the administration of student funding and loan accounts. Eligible former debtors are encouraged to engage with NSFAS through official channels so the refund process can be completed without delays.

The scheme has outlined a process that begins with identifying accounts that were overpaid. Individuals who qualify for refunds will be contacted through official NSFAS communication platforms using updated cellphone numbers and email addresses.

Those contacted will be guided through the application process and asked to submit verified banking details. NSFAS will then validate the information before processing any payment. To prevent fraud and ensure security, banking details must belong to the debtor and be linked to the individual's South African identity number.

Warning issued against scams and unofficial platforms

NSFAS has urged former beneficiaries to remain cautious when sharing personal information. The scheme warned that personal and banking details should only be provided through approved NSFAS platforms and official communication channels. Mathebula said protecting the personal information of beneficiaries and former debtors remains a priority. He encouraged people to verify all communications before responding to any requests for information.

The scheme also revealed that individuals who qualify for refunds will have the option of donating their refund amount back to NSFAS to assist future students in accessing higher education opportunities. Any funds that remain unclaimed after the process will be transferred to the National Credit Regulator (NCR).

NSFAS said it remains committed to managing public funds responsibly while ensuring that all eligible beneficiaries receive the financial support and services due to them.