Students are not happy with NSFAS new direct banking system
The National Student Financial Aid Scheme (NSFAS) is currently under fire following the rollout of a new direct banking system, which has left many students frustrated and angry over high bank costs and delayed payments.
The NSFAS Mastercard introduction
Last year, Higher Education Minister Blade Nzimande introduced the new NSFAS Mastercard with the aim of having a secure and student-centred approach that will see students receive their allowances through a bank card. These allowances include book allowances at the beginning of the year, personal care allowances, travel allowances, and living allowances.
Starting from June 2023, university students funded by NSFAS were asked to register with the provided services in order to start receiving their allowances directly.