The National Student Financial aid Scheme (NSFAS) has caught wind of students trying to sell their allowance vouchers for cash. Incidents have been reported at the University of Venda and Durban University of Technology.
In a statement released on Facebook today, NSFAS confirmed “that at least two [out of five] students at the University of Venda have forfeited their coupons/ vouchers after it was discovered that they are trading or exchanging them for cash.”
NSFAS’ Legal and Risk Department will investigate the matter further. NSFAS has said that “we are taking extreme and harsh measures to deal with this.”
Kagisho Mamabolo, spokesperson for NSFAS, has spoken to the media and has expressed NSFAS’ disappointment in some students trying to profit off of their allowance vouchers.
Mamabolo has also stated that NSFAS will suspend all allocated money for students caught selling their allowance vouchers. Students have been encouraged to report students who are selling their vouchers for cash to the fraud hotline (0800203900).
We want to maintain a zero tolerance to fraud & corruption within the Scheme. It is illegal to sell/trade your allowance #NSFASfraud
— NSFAS (@myNSFAS) April 19, 2017
sBux vouchers cannot be transferred, bought, sold, traded, exchanged for cash. It is illegal. #NSFASFraud
— NSFAS (@myNSFAS) April 19, 2017
Written by Jody Davison
