The National Student Financial Aid Scheme (NSFAS) owes institutions of higher learning more than R11.6 billion. These amounts cover the academic periods between 2017 and 2023.
NSFAS provides comprehensive bursaries and student loans to deserving students enrolled in approved courses at universities and TVET colleges. This funding covers tuition and registration fees. Students also receive several allowances for food, accommodation, and learning materials.
When students who are approved for bursary funding register with their college or university NSFAS should then pay their fees directly to the institution. When students are living in a college/university-owned residence those fees should also be paid to the institution.
When students experience delays with their fees it is usually because the communication between the institutions and NSFAS has failed. There have been changes to NSFAS systems over the last few years and the colleges/universities have had to constantly try to keep up with them.
The Higher Education Minister was recently asked in Parliament how much money NSFAS owes institutions. The response to this question was compiled by NSFAS CEO Waseem Carrim.
It was revealed that R10.232 billion is owed to universities, while TVET colleges are owed just over R1.3 billion.
Carrim explained that these amounts are subject to the conclusion of a reconciliation process. These processes require institutions and NSFAS to sign an agreement based on assets and liabilities related to students. The amounts owed to institutions will also be subject to further investigations by the Auditor General of South Africa. Amounts owed to institutions for the 2024 academic year are still being compiled by NSFAS.
Signed-Off Agreements
NSFAS is in the process of finalising reconciliation processes with several institutions. Once the involved parties sign an agreement on the owed amounts, the accounts will be settled.
Boland College has been paid just under R9 million that it was owed by NSFAS for the academic period between 2017 and 2021.
NSFAS owes more than millions of rands to Nelson Mandela University, Durban University of Technology, Walter Sisulu University, and Thekwini TVET College. The government bursary scheme is in engagements with the Special Investigation Unit for sign-off. The amounts owed to these institutions are estimated to be in excess of R150 million.
The University of Johannesburg, University of Zululand, Tshwane University of Technology, University of the Free State, and Vaal University of Technology owe NSFAS in excess of R713 million.
Get more details from our NSFAS section.
