NSFAS Issues Warning Over Phishing Scams Targeting Students. The National Student Financial Aid Scheme (NSFAS), South Africa’s key student funding body, has issued a serious warning regarding a rise in phishing scams that are specifically targeting students in 2025. As nearly one million students depend on NSFAS funding, this scam poses a direct threat to both their academic and financial well-being.
What Students Need to Know
In recent weeks, there has been a sharp increase in fraudulent messages sent to NSFAS-funded students. These phishing scams come in the form of SMS messages and emails, where scammers ask students to:
- Verify bank account details
- Click on suspicious links
- Share their myNSFAS login credentials
These messages may look official but are in fact part of a cyber scam designed to steal sensitive information and bank details.
NSFAS stated: “We have been made aware of an ongoing cyber scam targeting NSFAS-funded students. Scammers are sending SMSes and emails requesting students to verify their banking details through a link.”
NSFAS Issues Urgent Advisory to Students
NSFAS has made it clear that:
- They do not request banking information via SMS or email.
- Students should never click on unknown links or share their myNSFAS login information.
- All NSFAS services are free, and no fee will ever be required for any kind of assistance.
“Please remember that NSFAS services are free. We will never ask you to pay a fee for assistance with your enquiries, and you should never share your personal or myNSFAS details with anyone.”
How NSFAS Allowances Are Paid in 2025
Understanding how NSFAS allowances are disbursed can help students avoid falling for scams.
University Students
- University students receive their NSFAS allowances through their respective institutions.
- Although NSFAS had earlier planned to deposit funds directly into students’ personal bank accounts, this method has been delayed due to an ongoing court case.
- Students should communicate with their financial aid offices for updated information.
TVET College Students
- TVET college students receive payments directly from NSFAS.
- It is essential for these students to upload accurate banking details to the myNSFAS portal to ensure timely payments.
- Only students with confirmed NSFAS funding and verified registration information are eligible.
NSFAS has requested TVET college students to resubmit their banking details to avoid delays and ensure security.
How to Upload Banking Details on myNSFAS Portal
Students studying at TVET colleges can follow these simple steps to upload or update their banking details securely:
- Visit the official myNSFAS portal
- Log in using your myNSFAS username and password
- Navigate to “Profile Information”
- Click on “Bank Account Details”
- Enter your correct banking information
- Click “Save” to update
This process ensures your allowance is paid into your verified personal bank account.
Tips to Avoid NSFAS Phishing Scams
To protect themselves from cybercrime, students should:
- Never respond to unsolicited SMS or emails asking for banking details
- Avoid clicking on unknown or suspicious links
- Use strong, unique passwords for their myNSFAS account
- Regularly update and monitor their myNSFAS profile
- Always verify information from the official NSFAS website
Conclusion
As the academic year progresses, staying informed is the best defense against fraud. NSFAS continues to support millions of students, but it’s also each student’s responsibility to protect their personal and financial data.
