Students whose NSFAS funding applications have been approved are in for some good news as the bursary scheme has now confirmed when it plans to disburse funding allowances.
For those who have been curious as to when the National Student Financial Aid Scheme will release bursary funds to all of the country’s public tertiary institutions. The funds will be released based on the registration records that the bursary scheme has received.
NSFAS can confirm that it has since received the first tranche of its budgetary allocation for the first quarter of the financial year. The Scheme will thus be able to start processing payments to institutions and paying student allowances from Friday, April 08, 2022.
The bursary scheme further stated that an official communication has been sent to all institutions on the allowance payment process. The institutions that have complied with the 2022 approved NSFAS Eligibility Criteria and Conditions for Financial Aid will receive
payment from NSFAS.
However, prior to NSFAS releasing the statement student group SASCO expressed concerns about the delays in the allocation of NSFAS funds to institutions that have occurred in the past, student movement.
South African Students Congress (SASCO), issued a statement on Tuesday, citing their concerns over delays in the allocation of NSFAS bursary funds to students.
The student movement went on to say that they wrote to Minister of Finance Mr. Enoch Godongwana to seek clarity on the matter and gave me until Wednesday to respond.