4. NSFAS Payment Schedule: Cash Flow is King
This is one of the most misunderstood parts of the process and can make or break your finances.
• Payments are made twice a year, not monthly.
• First tranche usually lands in March / April, covering Feb- May.
• Following payments often pre-fund the next period( e. g. May covers June).
Plan to float expenses for 2 – 3 months upfront— including utilities, staffing, and maintenance. If you don’ t account for this lag, your operations may take a hit early in the year.
34 REI MAGAZINE AUGUST 2025