NSFAS still operational during lockdown
Going forward, NSFAS is working on a banking model that will eliminate all intermediaries in the disbursement value chain and facilitate direct deposits from NSFAS into student bank accounts.
Following President Cyril Ramaphosa’s announcement of the countrywide lockdown in response to the Covid-19 pandemic, the National Student Financial Aid Scheme (NSFAS) activated a business continuity plan to facilitate uninterrupted funding to students, for resolution of student application queries, processing of appeals and general assistance to institutions with NSFAS administration. This was to ensure that students received their allowances during this time, as they were entitled to their allowances in order to sustain themselves, continue with academic activities online, as well as pay for learning materials.
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“We are urging students to open bank accounts to ensure more efficient disbursements of funds from institutions where applicable. Going forward, NSFAS is working on a banking model that will eliminate all intermediaries in the disbursement value chain and facilitate direct deposits from NSFAS into student bank accounts. At present, NSFAS – through its NSFAS Wallet – is already paying directly to students from 32 of the 50 TVET colleges. During this week, NSFAS will be extending this facility to three additional colleges to ensure improved flow of funds directly to students. Students will be informed accordingly,” said NSFAS administrator Dr Randal Carolissen in a statement. He continued that, “Through an establishment of a virtual contact centre for operations during lockdown, NSFAS has been processing 4390 inquiries daily, with a large number emanating in case finalisation. We remain fully functional and accessible through these platforms to ensure that students’ inquiries are attended to as soon as possible.” Students who do not have myNSFAS accounts need to register to track their funding decisions, and to receive regular updates. For further enquiries, students are urged to call 0800-067-327. NSFAS is accessible on the below platforms from 8.30am to 5pm, Monday to Friday: Email: info@nsfas.org.za Facebook: National Student Financial Aid Scheme. Twitter: myNSFAS. Instagram: myNSFAS.
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