NSFAS Uses Universities Again for Student Payments

NSFAS is once again using universities to pay students. The scheme spent 2023 in efforts to stop this exact thing from happening with the direct payment system . NSFAS is currently looking for an alternative to the four fintech companies that run the direct payment system . The multibillion Rand firm and its million-plus students are currently sitting in limbo with no concrete plans set for after March.

For the months of February and March, the National Student Financial Aid Scheme (NSFAS) is once again using universities to distribute funds to student beneficiaries. The scheme spent most of 2023 in efforts and projects to cut out universities and TVET colleges from being involved in funding students with the launch of the direct payment system. NSFAS is in a state of confusion at the moment, having lost both its CEO and board chairperson amid corruption allegations late last year. The scheme also announced that it would fire the four fintech firms that have been facilitating direct NSFAS to student payments. This has yet to happe

Source: News Formal (newsformal.com)

NSFAS Universities Students Direct Payment System Fintech Companies Funding Uncertainty

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