Budget 2021

R16bn more over medium term for higher education

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(iStock)
(iStock)

Cape Town - Finance Minister Pravin Gordhan did not say much about the funding of universities in his Budget speech, except that extra support to an amount of R16 billion will go to the higher education system over the medium term (three years).

This will compensate universities for the freeze on their fees for the 2016 academic year and clearing student debt accrued in the academic years between 2013 and 2015.

According to the Budget review, the R16bn will come from reprioritising R31.8bn to support new spending requirements since the tabling of the 2015 Medium Term Budget Policy Statement in October last year.

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