Understanding how to sign up for the newly introduced NSFAS Bank account has become ever more crucial as the bursary scheme sets its sights on funding tertiary students for the current academic year. This means that the bursary scheme has already outlined some of the guidelines that benefiting students need to familiarise themselves with when activating it.
With the rolling out of NSFAS Bank cards currently underway, the National Student Financial Aid Scheme has recently stated that they do not require a student’s personal banking details to onboard onto the NSFAS Bank Account.
The bursary scheme has partnered with financial service providers such as Coinvest, eZaga, Tenet Technology and Norraco to facilitate the NSFAS bank account onboarding process in public tertiary institutions throughout the country.
NSFAS has also confirmed that Norraco will assist in onboarding students from the following institutions:
- Boland College
- Buffalo City College
- Ehlanzeni FET College
- Ingwe Public FET College
- King Hintsa Public FET College
- King Sabata Dalindyebo FET College
- Lephalale FET College
- Motheo FET College
- Northern Cape Rural FET College
- South Cape College
- Tshwane North College
- Umgungundlovu FET College
eZaga will be tasked with helping onboard students from the colleges listed below:
- Coastal KZN FET College
- Ekurhuleni East College
- Ekurhuleni West College
- Esayidi FET College
- False Bay College
- Flavius Mareka FET College
- Maluti FET College
- Sekhukhune FET College
- South West Gauteng College
- Thekwini FET College West Coast College
eZaga also encourages students from the above-mentioned colleges to onboard themselves by visiting and registering on the eZaga NSFAS Account Registration Portal. Meanwhile, Tenet Technology will assist in onboarding students from the following colleges:
- Central Johannesburg College
- College Of Cape Town
- Elangeni College
- Goldfields FET College
- Letaba FET College
- Lovedale Public FET College
- Mopani South East FET College
- Northern Cape Urban FET College
- Orbit FET College
- Sedibeng FET College
- Taletso FET College
- Waterberg FET College
- Western College
Tenet also advises this cohort of students to onboard themselves where possible by accessing their NSFAS account registration portal.
Furthermore, according to the bursary scheme, the difficulties associated with the current allowance payment method will be resolved by this new payment mechanism, which will also adequately accommodate the growing number of recipients and a substantial amount of funds to be distributed.
