NSFAS - more students repay aid

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.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Lockdown For
DAYS
HRS
MINS
Voting Booth
Is social media doing more harm than good?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, our children are exposed and we can't protect them
49% - 6225 votes
Yes, but social media is part of the new reality
45% - 5696 votes
No, it's great for growing a child's world view
5% - 664 votes
Vote
Rand - Dollar
14.13
+0.0%
Rand - Pound
19.86
+0.0%
Rand - Euro
17.07
-0.1%
Rand - Aus dollar
10.92
-0.0%
Rand - Yen
0.13
-0.2%
Gold
1,826.85
+0.6%
Silver
27.09
+0.4%
Palladium
2,863.32
+0.1%
Platinum
1,210.07
-0.3%
Brent Crude
69.32
+1.1%
Top 40
60,211
-2.1%
All Share
66,169
-1.9%
Resource 10
69,474
-3.1%
Industrial 25
82,513
-1.5%
Financial 15
12,499
-1.1%
All JSE data delayed by at least 15 minutes Iress logo