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06 April 2022 | Story Lacea Loader
NSFAS

The National Student Financial Aid Scheme (NSFAS) confirmed in a circular this week that monies will be paid to universities on 8 April 2022.

This will be the first payment that the University of the Free State (UFS) receives from NSFAS this year, as per the media statement by the Minister of Higher Education, Science and Innovation, Dr Blade Nzimande.

So far this year, the UFS management has made several concessions to students to alleviate their financial pressure while waiting for their NSFAS subsidies to be released.

This week, the university management – through active engagements and input from the Institutional Student Representative Council (ISRC) – agreed on the following process for book and meal allowances to be transferred to students’ bank accounts at the earliest possible opportunity:

  1. As in the past, the services of Fundi will be used to pay the allowances to students.
  2. Fundi will inform the recipients of monies received for them.
  3. After the banking details of students have been validated, monies are transferred to a student’s bank account. Fundi will inform students whose banking details are incorrect to rectify it on the Fundi website.
  4. Students who have not received payments before, will be requested to upload their banking details on the Fundi website, after which payment will be made.

It is anticipated that students whose bank accounts are with Standard Bank will receive notice of the payment of their allowance as soon as Friday, 8 April 2022.

Students banking with other banks will receive their payments subject to the inter-banking money transfer policies of the different banks, but not later than two business days after payment.

What students must do:

  1. Ensure that you upload the correct banking details.
  2. Upload your OWN banking details, not the banking details of friends or family.
  3. Ensure that your cellphone number is correct and active on PeopleSoft.
  4. Respond as quickly as possible to SMSes received from Fundi.

The university management would like to thank the majority of students for their patience during this difficult time while waiting for the NSFAS subsidies to be released.


Released by:
Lacea Loader (Director: Communication and Marketing)
Telephone: +27 51 401 2584 | +27 83 645 2454
Email: news@ufs.ac.za | loaderl@ufs.ac.za

News Archive

Team on the way to SIFE world cup
2007-07-16

 

A team of students from the University of the Free State (UFS) has won a national competition in business skills and entrepreneurship, and will be representing South Africa at the Students in Free Enterprise (SIFE) World Cup in New York later this year.

The SIFE World Cup will be held in New York from 10 to 12 October, and will feature student teams from 40 countries.

Antonia Gumede, a UFS student, says the competition involves students developing sustainable business models based in the community, which are evaluated in terms of entrepreneurship, financial literacy, business ethics, market economics and success skills.

Gumede says the UFS entry won first prize in all five categories at this year’s national competition.

The UFS team consisted of seven students and two faculty advisers, and included a diverse group of students studying in fields such as accounting, psychology, social science and actuarial science.

The UFS won the national SIFE competition for three years in a row – 2002, 2003 and 2004. This year (2007), the UFS team emerged as the winner for the fourth time.

The Co-ordinator of Community Service in the Faculty of Economic and Management Sciences, Tessa Ndlovu, attributes the success of the team to the university’s policy of community service learning, which she says motivates students to get involved in academically grounded projects that contribute to the well-being of the community.

“The financial, academic and emotional support from the Faculty of Economic and Management Sciences, as well as the faculty’s contribution to community service learning on the campus, contributes to the success of the team,” added Ndlovu.

The UFS SIFE team has been sweeping the board nationally. They first won the competition in 2002 and went on to represent the country at the SIFE World Cup in Amsterdam (the Netherlands), where they came fourth out of 33 countries.

In the following year (2003), the SIFE UFS team was once again crowned the national champion and went on to represent South Africa internationally, coming second in Mainz, Germany.

SIFE teams spend the academic year conducting projects that specifically meet the communities’ unique needs. These efforts assist aspiring entrepreneurs, struggling business owners, low-income families and children by teaching them how to succeed in a global market economy.

“Teams have the tremendous asset of learning from business experts who serve on their Business Advisory Boards. These people not only provide mentorship and guidance to them in terms of their projects, but also introduce them to other leaders in the community and give them access to needed resources,” said Nldovu.

“It is an unparalleled feeling to know that the contribution we as students make in our communities actually matters,” added Gumede.

Media release
Issued by: Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt.stg@mail.ufs.ac.za  
16 July 2007
 

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