The National Student Financial Aid Scheme (NSFAS) is proud to release its State of Funding 2021 report to the public. This report aims to provide stakeholders with an update on the NSFAS 2021 funding program to support approved students studying at public universities and TVET colleges.
It covers areas such as updating the demand status in 2021, stipends paid to institutions to date, appeals and some of the challenges the entity has faced in ensuring that every student funded confirmed receives the correct amounts and on time. The report also provides a breakdown of the funding allocation to each institution. The entity is committed to providing these updates to the sector and the public as part of strengthening and improving communication.
Despite the many challenges faced at the start of the 2021 academic year, due to the expected higher demand for NSFAS funding and the need to ensure budget adequacy before finalizing allocations, the Department of Education’s response Higher Education and Training (DHET) filled the expected shortfall. , and the program is confident that all students who deserve the funding will be funded.
To date, NSFAS has received and processed enrollment data from colleges and universities and continually makes payments for students whose funding eligibility has been confirmed.
The program has identified some exceptions related to non-compliance with DHET rules and guidelines as registration data is not aligned with funded certifications. For these, NSFAS urges institutions to rectify and ensure that students are enrolled on funded qualifications.
Despite this progress, lockdowns in the NSFAS wallet are still problematic. Fraudulent activity has been observed and NSFAS continues to educate students on the importance of profile management to manage this risk and report any abnormal activity on their accounts.
NSFAS intends to resolve any exceptions during the 2021 programming cycle as it will soon begin preparing for the 2022 application cycle.