Nsfas: Billions in upfront payments made for 2024 student allowances
The National Student Financial Aid Scheme (Nsfas) has made two upfront payments to tertiary institutions for the payment of student allowances during the 2024 academic year.
The upfront payments come after some students finished the 2023 academic year without receiving all of their allowances.
Nsfas acting board chairperson Lourens van Staden said most universities and TVET colleges committed to paying students by February.
"The first upfront payment was disbursed on the 31st January and the second upfront payment was disbursed on the 29th February 2024, the first upfront payment was administered to cover book allowance, accommodation, medical students."
"For universities, Nsfas disbursed R2.8 billion in January 2024. This disbursement does not include the calculation of the tranche payments, which Nsfas will disburse at the beginning of April 2024.
"This upfront payment covers one month of student accommodation and the book allowance. For TVET colleges, a total of R580,150,950.00 was paid to colleges as tuition upfront in January 2024."
Van Staden said an additional R1 billion was earmarked for three months’ worth of allowances to be paid based on registration from the January-March period.
"All these upfront payments are meant to enable institutions to register all Nsfas-approved students for the academic year 2024.”
The direct payment of allowances to students is set to start in April.
"Institutions will administer the payment of allowances for only February and March because the 3rd allowance will be made on the direct payment platform. No exceptions or deviations will be allowed,” Van Staden said.
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