National Student Financial Aid Scheme (Nsfas) spokesperson, Kagisho Mamabolo, says they are disappointed that some students sell their Nsfas allowance vouchers for cash.
Five reported incidents at University of Venda are being investigated.
Other incidents were reported at Durban University of Technology and the University of Limpopo.
Mamabolo says Nsfas has suspended all the money allocated for students caught selling their vouchers.
However, he admits that it would be difficult to end this if accredited service providers work together with students to corrupt the system.
It's not impossible to stop it if we notice it quite early.— Kagisho Mamabolo, Nsfas spokesperson
If we are alerted that a student is trying to purchase a refrigerator at a store using the coupons, immediately our system can track that and stop the transaction.— Kagisho Mamabolo, Nsfas spokesperson
And we can also monitor the spend of the student, but we also rely on the communities and merchants we accredit to provide these services.— Kagisho Mamabolo, Nsfas spokesperson
Listen to the full interview with Mamabolo...