This new payment solution will alleviate challenges experienced through the current allowance payment method as well as appropriately cater for the ever-increasing number of beneficiaries and large amount of funds to be disbursed.
With the estimated number of NSFAS funded students at 900,000, not all these students will be onboarded onto the new payment system immediately, NSFAS will pilot this solution with a set number of students first, following which the full roll-out will occur in a phased-in approach.In the end, all NSFAS funded students should receive their allowances and transact through the NSFAS Bank Account.