My NSFAS Wallet | How to Access

By | June 29, 2022

Looking for the My NSFAS Wallet? This page contains details on How to Access the My NSFAS Wallet and other related information.

My NSFAS Wallet | How to Access

WHAT IS NSFAS AIM?

The mission of the National Student Financial Aid Scheme (NSFAS) is to transform NSFAS into an efficient and effective provider of financial aid to students from poor and working-class families in a sustainable manner that promotes access to, and success in, higher and further education and training, in pursuit of South Africa’s national and human resource development goals.

My NSFAS Wallet | How to Access

The mission statement is made up of three distinct elements which describe why NSFAS exists, what it does, and the impact on its constituency: NSFAS exists to provide financial aid to eligible students at public TVET colleges and public universities; NSFAS identifies eligible students, provides bursaries, and collects student loan repayments to replenish the funds available for future generations of students; and NSFAS supports access to, and success in, higher education and training for students from poor and working-class families who would otherwise not be able to afford to study.

Who qualifies for NSFAS funding?

  • All South African citizens
  • All SASSA grant recipients qualify for funding
  • Applicants whose combined household income is not more than R350 000 per annum
  • A person with a disability: Combined household income must not be more than R600 000 per annum
  • Students who started studying before 2018 whose household income is not more than R122 000 per annum.

How to Access My Nsfas wallet 2022

You can access your NSFAS Wallet to withdraw cash and/or spend at any merchant registered by NSFAS. The allowance amounts are determined through consultation with institutions and communicated to NSFAS when you register.

  • When your NSFAS Wallet account is created by NSFAS, you will receive a “Welcome” SMS advising you to verify your account.
  • Ensure at ALL times that you have access to the cell phone number you provided to NSFAS upon application, as this is the number we will use to deposit your funds.
  • Should you wish to withdraw cash, you may do so at any of our cash withdrawal merchants, Checkers, Boxer, U-Save, and select Spar stores. Note that these stores have daily cash withdrawal limits from R200 – R1000 per day.
  • Spending at a registered store has no limit i.e. you can spend up to the maximum value of your cash wallet.

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