More students repay aid - NSFAS

2015-12-10 06:00

STUDENTS previously funded by the National Student Financial Aid Scheme (NSFAS) have been repaying their loans with the hope of helping others head to university, its CEO has said.

NSFAS CEO Msulwa Daca said the scheme had launched a recovery project in September and since then it started raking in about R5 million a month.

“We think that in 12 or 18 months to come, we will have added another R50 million per month into the system,” he said.

Daca was delivering a report at a round-table discussion attended by student representatives from 26 universities around the country.

Drawn-out protests recently saw students abandoning academic activities and disrupting their final examinations.

The students demanded, among other things, free education and a clearing of their existing debt.

Daca highlighted that the funds that NSFAS injected into universities never decreased. He added that in the coming year, the 26 universities would receive an increase. Daca explained that every year, NSFAS paid 30% of the expected NSFAS funds to the universities.

“[This is] to ensure they do not use the lack of cash flow for failing to immediately give students allowances,” he said.

“This will also prevent them from demanding registration from students, who are not expected to make family contributions.”
— News24.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.