NSFAS dismisses claims of late payment to students and payment of 157 980 "ghost students"
The National Student Financial Aid Scheme (NSFAS) categorically denies the recent claims of late payment of allowances to students. NSFAS confirms that payments of allowances have been processed on time to all NSFAS beneficiaries.
NSFAS has successfully disbursed allowances to 143,423 beneficiaries at TVET colleges for the month of October, with a total amount of R681,051,078. Owing to phishing threats, NSFAS had to put in place additional security measures to protect the system from potential fraudsters. As a result, the system upgrade caused delays in disbursing funds to universities. However, NSFAS is still on track to disburse allowances to students on the 1st of November 2023.
NSFAS has taken numerous measures to streamline its disbursement processes and improve the efficiency of fund transfers. These efforts are aimed at minimizing delays and ensuring that students can access their funds as promptly as possible.
"We understand the critical importance of these funds to our students, and we are continuously working to make the payment process as efficient as possible. Our commitment to the higher education community remains steadfast, and we are dedicated to providing financial assistance to those in need," said NSFAS Board Chairperson, Mr Ernest Khosa.
The News 24 Article which claimed that NSFAS paid monthly allowances to 157 980 'ghost students' is factually incorrect and improbable. NSFAS takes measures to ensure the accuracy and authenticity of student information through a Know Your Customer (KYC) validation process. This process involves verifying various aspects of a student's identity to authenticate them and enable access to their funds.
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This stringent process does not only ensure that only eligible students receive financial assistance but also provides flexibility of remote verification using Electronic Biological Authentication and the convenience of face-to-face verification at the nearest campus provide students with options that suit their preferences.
Through our numerous measures to streamline its disbursement processes and improve the efficiency of fund transfers NSFAS efforts are aimed at minimizing delays and ensuring that students can access their funds as promptly as possible.
NSFAS will continue to disburse allowances to students with its Direct Payment partners until an official communication indicating otherwise. We understand the critical importance of these funds to our students, and we are continuously working to make the payment process as efficient as possible.
NSFAS will continue to work closely with educational institutions, students, and other stakeholders to ensure that the disbursement process runs smoothly and according to the established schedule.
NSFAS also notes statements related to allegations by the former CEO Andile Nongogo. The Chairperson of the Board has no intention to engage in a slanging match with former CEO, regardless of how provocative the allegations are. These statements are false and unfounded and repeating them doesn't assist. Of importance is the need to implement the recommendations from the Werksman report which the Board is forging ahead with its implementation.
