Mention any four kinds of fraudulant activities that students who receive and repay NSFAS should guard angainst committing
Students who receive and repay NSFAS (National Student Financial Aid Scheme) should be aware of and guard against the following fraudulent activities:
1. False Information: Students should be truthful and accurate when providing information on their applications, such as their financial status, academic records, or personal details. Providing false information to obtain financial aid is a fraudulent activity and can lead to serious consequences.
To guard against false information, students should ensure that they provide authentic and verifiable information, double-check their application forms for accuracy, and be honest throughout the process.
2. Identity Theft: Students should be cautious of identity theft, where someone fraudulently uses their personal information for financial gain. This can happen when sensitive personal details (such as ID numbers, bank account details, or login credentials) are obtained without the student's consent.
To guard against identity theft, students should keep their personal information confidential, avoid sharing login credentials or personal details with anyone, shred documents with personal information before discarding them, and regularly review their bank statements and credit reports for any suspicious activities.
3. Unauthorized Sharing of Funds: Students should refrain from transferring or using NSFAS funds for unauthorized purposes. Using the funds for anything other than educational expenses specified by the scheme is a fraudulent activity.
To guard against unauthorized sharing of funds, students should familiarize themselves with the terms and conditions set by NSFAS, utilize the funds strictly for approved educational purposes, maintain proper records of expenses, and report any suspicious or unauthorized use of the funds to the relevant authorities.
4. Manipulating Academic Records: Students should avoid engaging in any form of academic dishonesty, such as falsifying grades, forging documents, or cheating in exams, to maintain their financial aid eligibility.
To guard against academic fraud, students should prioritize their studies and academic integrity, abide by the institution's rules and regulations, avoid cheating or plagiarism, and seek assistance from professors or academic advisors if they are facing difficulties.
It is crucial for students to understand that committing any kind of fraudulent activities not only violates the NSFAS rules but can also result in legal consequences, financial penalties, and jeopardize their academic and professional future.