ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / PERSONAL FINANCE

Student mistakenly gets $1 million instead of $100 in financial aid. Her next 73 days were unreal

The student was caught after she left a bank receipt behind.
PUBLISHED AUG 14, 2024
Representative image. Pexels
Representative image. Pexels

A university student in South Africa went on a 73-day spending spree after accidentally getting $1 million in financial aid. The oversight that occurred at Walter Sisulu University in Eastern Cape province led to the student spending over $60,000. The student Sibongile Mani, who was supposed to get $100 in her financial aid debit card for books and food, was finally exposed by another student who grew suspicious of her expenditure. 



 

The massive overallocation of funds happened back in 2017 when four extra zeroes were added to the student's financial aid payment under the National Student Financial Aid Scheme (NSFAS). 

Mani, who was 27 at the time, usually got 1,400 rands or $100 back then. The stipend given for food and books was immediately available to the student, according to Intellimali, the company that issued the student cards, Herald Live reported.

Mani first raised eyebrows when she turned up to school with nearly $200-a-time Peruvian weaves,  designer outfits, and a brand-new iPhone 7.

Representative image | Pexels | Photo by Alexandra Maria
Representative image | Pexels | Photo by Alexandra Maria

Mani also began flashing the cash to her closest friends and began drinking expensive whiskies with them. She even flew her friends around the country buying them the best seats for wild parties.

She threw surprise birthday parties, showered her friends with gifts, and helped them emulate their idols and pop stars like Beyonce while on campus. This allegedly went on for 73 days during which Mani spent over $60,000, as per CNN. 

Representative image | Getty Images | Photo by Yutacar
Representative image | Getty Images | Photo by Yutacar

Mani's opponents at the campus grew suspicious of her newly acquired spending habits. What finally gave her away was a bank receipt that she left behind at a supermarket. She was then reported to the authorities by a fellow student of the college. 

“When the receipt was leaked showing a balance of R13.6 million (~$1,050,000 at the time) in her account, I called NSFAS and they checked their records and confirmed that the initial amount was R14 million (~$1,080,000)," Samkelo Mqhayi, branch secretary of the South African Students Congress, told Herald Live.

Mani was then reported to the police and charged with theft and fraud. The mother of two was eventually sentenced to jail for five years in 2022. 



 

However, her lawyer Asanda Pakade appealed the decision insisting that her being found guilty of a crime didn't make sense at all.  In a state given to News24 after the sentencing on Mani, the lawyer said that when she received the unexpected amount, she was barely surviving and couldn't even afford a loaf of bread.

He also argued that Mani had a better future ahead of her as she had a degree in accounting, a diploma in internal auditing, a post-graduate certificate in education, and was pursuing an honors degree in education when the error happened.  



 

In a hearing in the East London High Court in Makhanda in 2023, Mani's sentence was suspended. She was instead ordered to complete 576 hours (nearly three and a half weeks) of unpaid community service and undergo regular counseling and rehabilitative programs.

MORE ON MARKET REALIST
Robert Reich, an admitted Baby Boomer, and former Secretary of Labor in the Clinton Administration took to the Internet to explain this discrepancy.
10 hours ago
The TikToker reordered the same items he bought two years ago on Walmart's app.
19 hours ago
Sometimes a stern look from Terry Crews is all that's needed to stop people from overspending.
4 days ago
Her motivation for living frugally, she explained, was to help stray cats.
4 days ago
Viewers were having none of it as several called her out for being "ungrateful."
5 days ago
Some also said that it isn't about what rich people say, it's about what they don't.
5 days ago
TikTok creator Jennifer claims she did it with no savings but proper guidance.
6 days ago
Both TikTok users and industry experts seem to be the torn on the subject.
7 days ago
Daniel Levene woke up one morning and found out he was an accidental millionaire.
Sep 2, 2024
Turns out having a good credit score is important for landing a second date.
Sep 1, 2024
In a viral Facebook post, the man explained how Holiday Inn was a better option.
Sep 1, 2024
"It was the greatest thing I have ever done for my health and bank account"
Aug 31, 2024
The TikTok creator says regardless of whether people can afford to pay, they should negotiate their bills
Aug 30, 2024
TikTok creator Lauren shared her story which went viral with viewers lauding her quick thinking
Aug 26, 2024
A woman went viral for sharing a hack to deter overbearing store workers.
Aug 25, 2024
The creator started her journey in 2023 and continued through 2024 until she was debt-free. 
Aug 24, 2024
He got offers within minutes from collectors who were ready to pay whatever he asked for.
Aug 23, 2024
The man later clarified that his purpose wasn't to make money at all.
Aug 23, 2024
Viewers of the viral video widely agreed to her theory and claimed to have saved tons.
Aug 23, 2024
What started as a joke, eventually allowed the couple from the U.K. to charge $50 an hour.
Aug 18, 2024