More NSFAS students are paying back the money - CEO

2015-12-03 14:05
(File, City Press)

(File, City Press)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Johannesburg - Students previously funded by the National Student Financial Aid Scheme (NSFAS) have been coming forward to pay their loans with the hopes 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 R5m a month.

"We think that in 12 or 18 months to come, we will have added another R50m 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.

Earlier, Higher Education Minister Blade Nzimande attended the presentation. He interacted with students, talking to them about their concerns. 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.

Funding increase

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.

"By December 11, all 26 universities should receive a signed letter from [the] DG of how much they will be getting in 2016," he said.

Daca explained that every year, NSFAS paid 30% of the expected NSFAS funds to the universities.

"[This is] to ensure that 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."

Read more on:    nsfas  |  johannesburg  |  education

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

Competition regulation for a growing and inclusive economy

ADVERTORIAL: The Competition Commission of South Africa is conducting advocacy work in the South African automotive aftermarket industry and has gazetted a Draft Code of Conduct for public comment.


6 myths about male cancer

It is important to be aware of the most prevalent cancer diseases amongst men in our country.


You won't want to miss...

Who are the highest paid models of 2017?
10 gorgeous plus-sized models who aren't Ashley Graham
5 top leg exercises for men
10 best dressed men of 2017
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.