The financial aid scheme confirms its appeal against the judgement interdicting it from terminating the contract with student allowances provider eZaga Holdings.
The National Student Financial Aid Scheme has lodged an appeal against a High Court ruling that makes way for fintech partners to continue paying student allowances directly.
“On that basis, NSFAS has been advised by its legal team that disbursements of student allowances may be made in the manner arranged in the past few months; that is through the institutions for university students and directly into TVET college student bank accounts. NSFAS has, over the years, faced systemic governance issues, including IT system failures and mismanagement within the scheme. The latest being the selection four fintech providers to disburse monthly allowances to tertiary students.
The fintech partners were awarded the NSFAS direct payments contract, to the value of R47 billion, over a period of five years. However, that relationship turned awry, amid
NSFAS Ezaga Holdings Direct Payment Providers Western Cape High Court
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