Prior to the official funding allocation for the 2022 academic year, the National Student Financial Aids (NSFAS) had to rely on alternative funding allocation methods in order to disburse funds to universities. Here is how the bursary scheme carried out the first phase of funding allocations for higher learning throughout 2022
The National Student Financial Aids Scheme (NSFAS) has stated that it has managed to disburse bursary allowances to universities despite having experienced a variety of challenges related to funding allocation.
“The planned disbursement for 8 April was the first in the 2022 academic year, given the lack of cash reserves that had made it possible for NSFAS to provide upfront payments to institutions at the start of the academic year. “
The bursary scheme adds that it could manage to make upfront tuition payments to colleges during February, which in turn were used to disburse student allowances,
However, no upfront payments were made to Universities, and as a result all universities had to temporarily rely on their own resources to allocate allowance to NSFAS qualifying students.
The committee further states that NSFAS received registration data for 459 141 students from a total of 597 700 provisionally funded students.
In addition to this, NSFAS had made payments to 416 577 students whose registration data had been successfully linked and complied with the funding criteria.
NSFAS however, did not process 35 372 registration data registration data record due to their non-compliance with eligibility rules, including the N1+ rule for universities.
The problem was that students whose registration data had been submitted but had not been correctly verified could not be eligible for allowances until these concerns were remedied.
Furthermore, a possible 145 751 overdue registration data from institutions was apparent in the data given, as compared to funded students and 2021 registration statuses.