“Our Tax Money”: Woman Buys New Car Using NSFAS and NRF Savings, Sparking Buzz in SA

• A woman showed off her brand-new car in a TikTok video that gained significant attention online
• The babe revealed how she bought her whip; the revelation sparked a buzz on the internet
• South Africans chimed in, as they took to the comments section to share their thoughts
• Briefly News spoke to financial expert Fulufhelani Mashapha, who shared insights on whether using government financial aid, like NSFAS and NRF bursaries, for personal expenses such as buying a car is a wise financial decision

A local woman has made headlines after purchasing a brand-new car, and the method she used amazed many.

Woman buys new car using NSFAS and NRF savings

The young lady demonstrated her creative and practical way of bagging a car on her TikTok account under the handle @pknkonjane.

She revealed that she bought her white Hyundai through the means of her NSFAS (National Student Financial Aid Scheme), which is a government student financial aid scheme that provides financial aid to undergraduate students to help pay for the cost of their tertiary education after finishing high school, and NRF savings.

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The NRF (National Research Foundation) bursary awards students who generally need to be South African citizens or permanent residents. They also need to meet specific academic requirements based on their level of study (Honours, Master's, or Doctoral) and age limits. Additionally, applicants may need to demonstrate financial need or exceptional academic achievement.

Thanks to her NRF savings, @pknkonjane made good use of them and bought herself a car. In the video, she showcased how it was wrapped in black with a red ribbon at the dealership as she stood in front of it. She unveiled how she drove off in her brand-new whip.

Her story has sparked debate on the evolving role of student aid funds in everyday financial planning. As more South Africans seek a balance between present needs and future security, the young lady’s decision may become a model for others navigating similar choices.

Watch the video below:

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Dos and don'ts of using NSFAS and NRF for personal expenses

While speaking to Briefly News financial expert, Fulufhelani Mashapha, shared insights on whether using government financial aid, like NSFAS and NRF bursaries, for personal expenses such as buying a car is a wise financial decision.

She expressed the following:

"Using government financial aid such as NSFAS or NRF bursaries for personal expenses like purchasing a car is generally not a wise financial decision, especially when the primary purpose of these funds is to support essential education-related costs, such as tuition, textbooks, accommodation, and transport to and from campus."

She expressed that bursary students often lack alternative income sources, leading to financial strain when using the stipend to buy a car, which includes ongoing expenses like fuel, insurance, maintenance, and repairs.

The financial expert advises students who are considering similar spending choices by adding:

"Unless the vehicle is used as a tool to generate income, such as offering transport services, deliveries, or other part-time opportunities, it may end up being a financial liability rather than an asset. Instead of improving the student’s quality of life, it can increase monthly outflows and reduce their ability to meet other important needs or save for emergencies.

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"Therefore, it is more prudent for students to prioritise long-term financial stability, live within their means, and focus bursary funds on needs that directly support their academic success. Practising financial discipline during this time can help cultivate good money habits that will benefit them well beyond graduation."

SA reacts with mixed feelings over new car owner

The online community was proud of the young lady for achieving such a huge milestone, and they headed to the comments section to shower her with congratulatory messages.

K To The Second Letter said:

""s being used to buy cars when the people who pay tax don't even have cars, what a sad time to be a middle-class South African."

Freedom shared:

"I built my house with that money."

Edward Skuderia Mlilo wrote:

"It’s possible that people NRF pays."

Ben commented:

"Andinamona but uyayazi there's no way."

Arnold expressed:

"Those who don't know NRF... it gives students more than 100k/year, it is for postgraduate students, so it is different from NSFAS."

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South African women flex their cars

• Briefly News previously reported that one woman in South Africa has become a beacon of hope for many young women in Mzansi after she showcased her achievements.
• One young lady achieved a big milestone in her life and bragged about it on TikTok as she showed off her car.
• A woman in Mzansi showed off her brand-new whip, and her salesman had ladies going wild in the comments section.
• One South African woman turned heads with her collections of cars, which she flexed on her social media account after taking part in the latest social media challenge.

Source: Briefly News