South Africa: South African student get rich by $1m through error loan

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South African rands

A South African student has gotten 1m dollar loan from error loan an equivalent of 14m rand and about #364m Naira.

The error was notable when the picture showing the account number of the student went viral.

According to  Time Live reports A spokes person of the university, Walter Sisulu University had reported her living a lavish lifestyle.

The student was quoted to have reported the error to the school authority.

And also was quoted to have returned the money.

But the university through its spokes person had said the student would pay for every cent.

South African students receive loans for their education through the National student financial Aid , (NSFAS) and money is made to be paid back after graduation.

According to the program a student is given a card and should be able to spend the money in designated shops.

NFSAS in a twitter post blamed WSU and said it gives all the money to be paid to the University which in turn disburses it to the students.

NFSAS has said that when the mistakes occur, the funds was already with the University.


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5 July 2018 at 03:44
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