The National Student Financial Aid Scheme (NSFAS) is to tighten the way in which it allocates funds to students in the higher education sector.
NSFAS Chairperson Sizwe Nxasana recently revealed the entity's proposed new funding system, which is expected to be in effect from the year 2018.
Speaking to #NightTalk's Gugs Mhlungu and Sizwe Dhlomo, Nxasana said that the new funding system will be centralised and run by NSFAS, together with various government bodies.
Nxasana said that the new funding system will look to address some of the challenges of the current funding system. Among several undertakings, NSFAS will increase the maximum income household threshold for NSFAS applicants, and focus on reducing student dropout rates at universities and TVET colleges.
Listen to the full interview below...
Currently we don’t fund students that come from households that earn above 122 000 rand, who may be too poor to have securities and things required by banks— Sizwe Nxasana, NSFAS Chairperson
In the current system it is difficult to see where students are spending the money— Sizwe Nxasana, NSFAS Chairperson
By centralizing the system, we will stop a lot of leakages and inefficiencies, as well as the practices that have been developed and allowed to continue over time— Sizwe Nxasana, NSFAS Chairperson
The fact that we are partnering with private funders doesn't mean that (NFSAS) loan conditions will become stricter— Sizwe Nxasana, NSFAS Chairperson