In a bid to address delays in the 2024 academic year, the National Student Financial Aid Scheme (NSFAS) has announced significant progress in the distribution of allowances to students across South Africa. Twenty-nine institutions have already submitted registration data for catch-up payment, with disbursements expected by Friday.
Professor Lourens Van Staden, acting Chairperson of NSFAS, highlighted the challenges faced due to registration delays, leading to a proactive decision by the NSFAS board. Institutions were requested to facilitate allowance payments for February and March as an interim measure. Van Staden emphasized the importance of communication, ensuring all universities and Technical and Vocational Education and Training (TVET) colleges were informed of the decision.
To alleviate financial burdens on institutions and students, NSFAS provided upfront payments to cover various allowances. Two upfront payments were disbursed, the first on January 31 and the second on February 29, 2024. These payments aimed to assist institutions in distributing students’ allowances, with many committing to payments by the end of February.
The first upfront payment covered book allowances and one month of accommodation costs, while the second included book allowances for the latter half of the academic year, accommodation allowances for March, and transport allowances for February. Notably, additional provisions were made for medical students, acknowledging their unique academic calendar starting in January.
NSFAS disbursed R2.8 billion to universities in January 2024, excluding tranche payments scheduled for April 2024. For TVET colleges, R580150 950.00 was disbursed as tuition upfront, with an additional R1 billion earmarked for allowances based on January-March registrations.
Van Staden emphasized that upfront payments aimed to facilitate student registrations for the 2024 academic year, particularly crucial during the registration period. He highlighted the necessity for institutions to disburse allowances for February and March due to registration challenges, with plans for direct payment services to commence in April.
Looking ahead, NSFAS urges all institutions to submit registration data promptly to facilitate catch-up payments, ensuring students receive necessary financial support. Van Staden reaffirmed NSFAS’s commitment to supporting South African students throughout their academic journeys.
By prioritizing timely allowance disbursements and proactive measures, NSFAS aims to mitigate the impact of academic year delays, fostering a conducive learning environment for students across South Africa.
