📝 An online petition calls for abolishing the new Nsfas payment system and reinstating the previous structure. The petition highlights that students have been charged over R100 in banking fees. ⛔️💰 TheCitizenNews Read the story ⬇️
Students march to the National Student Financial Aid Scheme's head office on 24 May 2023 in Cape Town. The students are accusing the scheme of ignoring their plight and also criticised the scheme's new payment methods. Picture: Gallo Images/Brenton Geach
The scheme has partnered with digital banking service providers Norraco, eZaga, Coinvest and Tenetech in a five-year contract to directly pay student allowances through a compulsory bank account. According to Outa’s findings, most of the service providers did not have banking licences or value-added tax registrations to make direct payment of student allowances.“What’s worse is that a banking licence or affiliation with a bank was supposed to be a compulsory bid requirement. This seems to have been flouted. Only eZaga Holdings has an affiliated banking licence with Access Bank,” Outa said in a statement.
University of Witwatersrand second-year student Tumelo Mafoko said they were shocked to learn that inexperienced service providers were appointed to administer and distribute billions of rands in student allowances.“On the 30th of June, Nsfas announced that they have made all payments. Students were left in confusion since the majority of us [at Wits] did not receive any payment from these banks.
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