The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017.
NSFAS chairperson Sizwe Nxasana explained in detail how the comprehensive model will work.
There are a number of issues which the current model of NSFAS does not address.— Sizwe Nxasana, NSFAS chairperson
Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies:
5 ways the NSFAS funding model will change in 2017:
1. The new funding model will have a relative means test to determine a family’s disposable income to include the so-called ‘missing middle’.
2.To address the high dropout rate of poor students from tertiary institutions, the model will provide extra academic and psychosocial support in addition to funding.
3. The new model will seek funding from government and alternative sources such as the private sector, financial institutions and NGOs.
4. The model will work with universities and employers to provide incentives for programmes that lead to graduate employment.
5. NSFAS says those who are beneficiaries and refuse to repay their loans will face normal debt repayment processes.