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The National Student Financial Aid Scheme (NSFAS) continues to be arguably one of the worst-run university funding schemes in the world. And you can fight me on that.

Yet again, NSFAS has failed to make payments to students, resulting in our country’s future academics facing issues including going without food and being unable to attend classes.

In a yawn-worthy apology, NSFAS stated:

“We apologise for this unfortunate moment and completely understand the inconvenience this delay will cause our beneficiaries. We will always try our best to ensure that this never occurs going forward.”

A cut-and-paste statement that we’ve heard many times before.

Due to ongoing so-called “technical glitches”, NSFAS has now announced that they will be changing to a direct payment method for sending funds to students.

This decision has faced immediate backlash due to excessive transaction charges imposed on beneficiaries.

Fintech companies, including eZaga, Coinvest Africa, Norraco Corporation, and Tenet Technology, have been newly contracted by NSFAS to handle allowance payments.

Clearly, no one is thinking of the students, as the four contracted entities charge NSFAS beneficiaries a standard monthly fee of R12 for administrative costs, excluding additional transaction fees such as ATM withdrawals, card swipes, and card replacement fees.

ATM withdrawals, for instance, incur a charge of R10 plus R2.50 for every R100 withdrawn. And so, even if you’re the next top SA scientist working hard to finish your degree, you may need to forget about ‘three meals a day’.

William Sezoe, vice-chairman of the student representative council at Stellenbosch University, has come forward to criticise the lack of transparency and communication regarding payment timelines.

“It’s totally unacceptable. There was no transparency or communication from NSFAS on when students will be receiving their allowances. NSFAS must really account for the fact that their governance structures are not proper and effective.”

Sezoe even lodged a complaint about NSFAS’s direct payment system with the Public Protector in July. To join the already-huge pile of NSFAS complaints that will never be addressed, I’m sure.

If we are to support the next generation of SA’s university students, NSFAS needs to get their sh*t together. I can’t sleep at night knowing that the hypothetical student who may discover a cure for cancer is unable to eat dinner.

[source:timeslive]