NSFAS Urges Students To Pay Back Student Loans

Students who had their higher education funded by NSFAS are now being encouraged to pay back their student loans. NSFAS has been criticised for their administration and lack of efficiency.

Advertisement
 

NSFAS is now encouraging past students to repay that which they owe NSFAS.

An issue NSFAS has found is that funds are not being repaid by students who were funded when NSFAS was a loan scheme. 

"Before 2018 fee free education, students understood that to be funded by NSFAS as a loan, you have to repay it back," said Mamabolo.

In 2018, NSFAS changed from a loan scheme to a bursary scheme. The bursary will cover your tuition and registration fees along with your accommodation, transport and books.

NSFAS has recently said:

Funds received through repayments are reinjected into a new budget which allows us to fund more students.

They then went on to explain that repayment must start once a debtor is employed and earning an income that is above R30 000 per year.

Free Education

Students protest every year for free education. During his presidential term, former President Jacob Zuma, promised students that there would be free education.

However, current Higher Education Minister, Blade Nzimande, has set the record straight and said that this was incorrect and that government has the job of providing free education to students who come from poor and working class background which he says is being done through NSFAS.

RELATED: There Is No Free Higher Education For All - Nzimande

Former student activist, Shaeera Khalla, told Carte Blanche:

When the free education announcement was made by President Jacob Zuma, there was no indication of where the money was coming from ... You're not seeing any real change in these systems.

She feels that government has not found a solution to that issue and that NSFAS is actually a problem even though it's being seen as part of the solution.

"Fundamentally, we cannot say that NSFAS has become a competent institution that can administer the funds that have been put into it."

Article Category

Other Articles

With the Covid-19 pandemic still rampant in 2021, both public and private High Schools have had to adapt their Matric curriculum programme in order to make up for time lost during the epidemic, with some IEB schools having to alter their teaching methods as a result.

Kristal Duncan-Williams from Youth Capital gave some advice for Matrics looking to enter the workforce immediately. Youth unemployment is a major issue in South Africa and greater focus needs to be placed on not only graduates looking for work, but Matriculants as well.

Applications for Semester 2 Business Studies are now open at Elangeni TVET College. Limited spaces are available so apply now.

Youth Capital wants to help solve the main challenges that face South Africa's youth with work that expands far greater than this. Kristal Duncan-Williams from Youth Capital explained what Youth Capital is and what they do.

Society is now moving into the Fourth Industrial Revolution and you must have head about AI or artificial intelligence before. Explore Data Science Academy stepped in and helped us understand what artificial intelligence is.