🇿🇦South AfricaSouthern Africa
Nsfas seeks former beneficiaries for loan refunds due to historical overpayments
via The Citizen12 min read
The National Student Financial Aid Scheme Nsfas is actively tracing former beneficiaries who may be eligible for refunds due to overpaid study loans, primarily from accounts predating 2010. These refunds are a result of corrections to historical interest calculations. Nsfas previously conducted a similar campaign in November 2015, but some individuals could not be reached. The scheme has now acquired updated contact information to re-engage these former debtors. Unclaimed funds will eventually be transferred to the National Credit Regulator NCR. Nsfas administrator Professor Hlengani Mathebula emphasized the organization's commitment to refunding these amounts and urged eligible individuals to use official Nsfas channels for the process. Affected individuals will be contacted and directed to an official refund application process requiring verified banking details, which must be in the debtor's name and linked to their South African identity number. Former beneficiaries also have the option to donate their refund back to Nsfas to support future students. Mathebula cautioned against scams, advising vigilance and stressing the importance of only engaging through official Nsfas platforms to protect personal information.
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