NSFAS Payment Schedule 2024

In South Africa, millions of students rely on the NSFAS Payment Schedule for their academic cycle. Currently, they are awaiting their NSFAS allowances to meet their study requirements, travel allowances, and food necessities. The delay in the disbursement of NSFAS allowances has caused distress among many students.

TVET college students who are beneficiaries of NSFAS now have the option to receive their allowances through a preferred bank account. This modification applies solely to TVET college students. University students will persist in receiving their allowances through their respective institutions until the conclusion of July 2024. It’s recommended for students to keep their bank details current to facilitate seamless transactions.

Take note: It’s imperative for TVET Students to establish a bank account and input their banking information on the myNSFAS portal to receive their allowances. Submission of banking details that are not your own is strictly prohibited.

NSFAS would like to bring to the attention of all educational institutions that TVET college students receive their monthly allowances on the 25th of each month, while university students receive theirs on the 30th.

It’s crucial for educational institutions to submit their registration data promptly to ensure NSFAS can process the payments within the stipulated deadlines.

The payment dates for TVET college students are also organized in accordance with the academic calendar. The allowances are processed and credited to each student’s Mynsfas account e-wallet. It’s important to monitor your payment dates to ensure you don’t miss them. If you don’t receive your allowances payment, then your allowances are transferred to your NSFAS e-wallet. The payment commitment dates for other institutions are as follows:

This timetable delineates the academic periods relevant to all campuses of Kwazulu Natal, guaranteeing synchronization and consistency across the educational calendar.

• Cycle 4: All Campuses – Monday, 6 May 2024
• Cycle 5: All Campuses – Monday, 3 June 2024

The National Student Financial Aid Scheme (NSFAS) organizes a timetable for the disbursement of monthly allowances, ensuring students receive their funds punctually and can effectively budget their monthly expenditures. The timing of these payments is contingent on the specific allowances and the institution of higher learning. Payments are structured to align with the academic year, typically divided into two portions akin to semesters.

The determination of NSFAS payment dates is rooted in the academic calendar. Each month, students are allocated funds in accordance with their financial requirements and funding classification, which may be subject to increase or decrease. It is highly likely that students will receive their funds within the first 10 days of each month.

The National Student Financial Aid Scheme (NSFAS) provides an opportunity for underprivileged and deserving students to realize their educational aspirations. NSFAS disburses allowances for personal care, travel, accommodation, and study expenses for ten months of the year, typically during the first week of each month.

NSFAS offers financial assistance for up to five years. After this period, students are expected to bear their own expenses. If a student completes their degree in 3 to 4 years, NSFAS continues to provide financial support for the remaining 1 to 2 years. The N+2 rule applies only if a student needs to retake a course or enrolls in a course that lasts 2 years or less. For more information, please refer to the NSFAS Appeal procedure.