This happened approximately five months ago but was only brought to our attention this week by another student who saw social media posts.
IntelliMali, a company responsible for administering the National Students Financial Aid Scheme (NSFAS) has taken responsibility over the misallocation of R14million into a student’s account, instead of a monthly allowance of R1 400.
University spokesperson Yonela Tukwayo told TimesLive that some students picked up that the student had started living a very lavish lifestyle.
It is understood that she’s already spent almost R400,000. “When the error was discovered in early August 2017, she had misappropriated R818 000”, CEO Michael Ansell said in a statement on Wednesday.
The student said the funds were deposited on June 1, after which she reported the mispayment to the university’s Students’ Representative Council (SRC).
“The answer is simple, NSFAS made a mistake and allocated more money in a wrong account and that account happened to be mine”, she wrote.
In theory, a student should only be able to spend it using a special card at designated shops.
“I can also confirm that the student is liable for every cent, ” said Tukwayo.
The matter came to light when the student’s receipt with a multimillion rand balance was posted on social media and quickly went viral.
The overpayment was the first in 10 years of loading R5bn worth of allowances for books and food that students access with an Intellicard account. The university is looking to investigate how the student was able to buy some of the goods.
NSFAS had blamed the university for the error and insists that it never paid R14 million to one student.