The National Student Financial Aid Scheme (NSFAS) provides loans and gives various NSFAS Allowances to students at all 25 of our public universities, as well as the 50 public FET (Further Education Training) colleges.
The National Student Financial Aid Scheme (NSFAS) provides students with a NSFAS wallet which allows NSFAS-funded students at certain tertiary institutions, to withdraw cash or spend it at any merchant registered by NSFAS.
The student requires the following so as to be qualified to receive NSFAS Allowances through NSFAS Wallet;
- You must sign your NSFAS Bursary Agreement if you are a new student to NSFAS
- Your own cell phone and valid SIM card
- You will not need to withdraw cash to pay your landlord or any registered merchant.
Students must ensure that they have access to their cellphone number that they provided to NSFAS when applying for funding. This is because that number will be used to deposit their funds.
If you are a first-time user, the process may seem daunting at first but it is pretty simple. Here is the steps on how to get started with your NSFAS Wallet:
- You will receive an SMS welcoming you to NSFAS Wallet
- Once you receive SMS, open it and verify your account by dialing *134*176# and reply with your ID number
- You will then receive a password that you will use when transacting. Note that you need to keep this password secure at all times!
- Do not keep or save your password on your cell phone and always keep your cell phone’s screen locked with a password or pin.
You can withdraw cash at participating stores such as, Shoprite, Usave, Checkers, SPAR, Choppies or Boxer. These stores do however have a daily cash withdrawal limit of R1000 per day.
Click here for the full guide on NSFAS Wallet.
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