Question NW415 to the Minister of Higher Education, Science and Innovation
07 March 2024 - NW415
Khakhau, Ms KL to ask the Minister of Higher Education, Science and Innovation
What steps has his department taken to ensure that Coinvest and other service providers roll out National Student Financial Aid Scheme funds on time?
Reply:
The Department does not oversee the operations of service providers appointed by NSFAS, this is the role of senior management. NSFAS has advised that as per their agreements with service providers, they provide on boarding files to all partners in anticipation of the agreed upon monthly payment dates. A NSFAS payment file follows, after all partners have confirmed that students have been on boarded. Within 24 hours of NSFAS paying funds over to the partners, they release funds into students’ individual NSFAS bank accounts.