Thousands of students will begin receiving their National Student Financial Aid Scheme allowances via the new Nsfas bank accounts. Students must first register before they can be transacting with their Nsfas allowances.
The National Student Financial Aid Scheme (Nsfas) has called on bursary recipients to register for the Nsfas bank account. The financial aid scheme introduced the new Nsfas bank account to provide better value for money services to students.
Nsfas says the new payment solution will alleviate challenges experienced by bursary recipients using the old allowance payment method. The Nsfas bank account will also enable the financial aid scheme to appropriately cater for the increasing number of bursary recipients.
“All Nsfas beneficiaries are encouraged to register for the Nsfas Bank Account to enable Nsfas to pay their allowances,” Nsfas said.
As part of the digital transformation at Nsfas, all Nsfas beneficiaries at universities and TVET colleges will start receiving their allowances and transacting through the NSFAS bank card as of the 2023 academic year.
Students must navigate to the Nsfas website http://nsfas.org.za for information on how they can sign up online.
The bursary scheme teamed up with four partners to bring this new payment plan to students. These distribution partners include coinvest, eZaga, norraco and Tenet Technology. Students must sign up with the distribution partner their institution is registered with.
Tenet Technology
- Central Johannesburg College
- College of Cape Town
- Elangeni College
- Goldfields FET College
- Letaba FET College
- Lovedale FET College
- Mopani South East FET College
- Northern Cape Urban FET College
- Orbit FET College
- Sedibeng College
- Taletso FET College
- Waterberg FET College
- Western College
Students registered at the following institutions must sign up with Tenet Technology to onboard themselves onto the Nsfas Bank Account.
Coinvest
- Capricorn College
- East Cape Midlands
- Gert Sibande FET College
- Ikhala Public Further Ed and Training
- Majuba College
- Mnambithi FET College
- Mthashana FET College
- Nkangala FET College
- Northlink College
- Port Elizabeth College
- Tshwane South College
- Umfolozi College
- Vuselela FET College
Students registered at the following institutions must sign up with Coinvest to onboard themselves onto the Nsfas Bank Account.
Norraco
- 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
Students registered at the following institutions must sign up with Norroco to onboard themselves onto the Nsfas Bank Account.
eZaga
- 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
Students registered at the following institutions must sign up with eZaga to onboard themselves onto the Nsfas Bank Account.
In the end, all NSFAS funded students should receive their allowances and transact through the NSFAS Bank Account.
Careers Portal understands that colleges formally referred to as FET Colleges are now referred to as TVET College. However, in the information provided by Nsfas, Colleges are referred to as FET colleges.
