Thank you for reading this post, don't forget to share!
Latest New on UNISA – Students receiving government bursaries may now use those allowances to purchase necessary items while studying. One university is employing a new method for distributing those allowances.
Unisa, the country’s largest university, will use a new Electronic Funds Transfer system to pay student allowances and refunds starting this month. Thousands of students use living expenses from the National Student Financial Aid Scheme (Nsfas) every month to purchase basic goods and services.
Nsfas gives these reimbursements and allowances twice a month. Students may receive their allowance in the first and the last week of each month, according to these details.
Before, the University of South Africa (Unisa) does any payment, UNISA takes some steps when paying NSFAS allowances, here’s how;
- If a student qualifies for a refund and/or allowance, an email will be sent to the students’ myLifeemail account, containing all the relevant information they need along with a secure link to a website where the relevant banking details must be entered and submitted.
- After reading the email carefully, students must click on the link which will allow them to capture their banking details and submit these. Unisa warned that students can only use their active bank accounts. Payments to third-party accounts are not permitted and will not be processed. The account particulars will be verified against the students ID number.
- The verification status of the details students submitted will be displayed. This may not occur immediately. Students are advised to revisit the link until this information is made available.
- If the bank account verification fails or is rejected, students must re-enter their banking details and ensure they are correct.
Students’ refunds could take up to 15 days to reflect in their banking accounts, Unisa said. Meanwhile, unisa also urged students to contact the Directorate of Student Funding at [email protected] if they face any problem.
Nsfas recently revealed that they will pay students directly in the future through a Mastercard and a linked account. This will teach students financial responsibility in addition to giving them more control over their money.