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.