Sizwe Nxasana on plan to tighten the allocation of NSFAS funds

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
Read More
'No tangible or sustainable transformation in banking sector'

'No tangible or sustainable transformation in banking sector'

Chartered accountant Khaya Sithole says the 2004 Financial Charter has been rendered a very useless instrument.

It is possible to earn more than your boss

It is possible to earn more than your boss

Director for Search Partners International speaks about workplace dynamics and when an employee earns more than their boss.

How to combat South Africa’s sugar diabetes problem

How to combat South Africa’s sugar diabetes problem

Dr Sundeep Ruder says 3.85 million people have diabetes in the country and many of these cases are undiagnosed.

#FeesMustFall sparks higher education alternative funding discussions

#FeesMustFall sparks higher education alternative funding discussions

With the #FeesMustFall uprising at universities nationwide, the conversation has started on how else higher education can be funded.

Heated #WitsFeesMustFall debate on #TalkAtNine

Heated #WitsFeesMustFall debate on #TalkAtNine

Gugs and Sizwe hosted two Wits University students in a debate to break down what the "Wits Fees Must Fall" movement is about.

What will Nxasana do to improve NSFAS?

What will Nxasana do to improve NSFAS?

Blade Nzimande has announced First Rand Bank CEO Sizwe Nxasana as new chairperson of National Student Financial Aid Scheme (NSFAS)

Popular articles
Opinion: Laying equal blame on parents in Spur spat is wrong says Eusebius

Opinion: Laying equal blame on parents in Spur spat is wrong says Eusebius

He believes it's a moral cop-out to say the only thing going on in the video is two adults behaving badly in front of the kids.

[LISTEN] Eldorado Park activist's eyewitness account of fatal mob attack

[LISTEN] Eldorado Park activist's eyewitness account of fatal mob attack

Community Activist Dereleen James says there has been a surge of drug related crimes in the area, leading to a series of deaths.

Is Uber dying? Stuff’s editor explains…

Is Uber dying? Stuff’s editor explains…

High ranking employees are resigning en masse as crisis upon crisis pummel lossmaking Uber.

Spur CEO: Man's pic will be up at restaurants and he is not welcome

Spur CEO: Man's pic will be up at restaurants and he is not welcome

Spur CEO says staff aren't equipped for this kind of customer confrontation and he will consider reviewing their training manual.

WATCH: Spur bans man after heated spat caught on camera

WATCH: Spur bans man after heated spat caught on camera

A man has been banned from Spur after threatening a woman during a heated argument which was captured on video and has gone viral.

Spur tightens its belt as 'two for the price of one' Monday burger special ends

Spur tightens its belt as 'two for the price of one' Monday burger special ends

The CEO of Spur says food inflation has played a big role in making this difficult decision.

3 JSE shares you should invest right now (by Momentum)

3 JSE shares you should invest right now (by Momentum)

Looking for a hot tip, or three? Here’s what Momentum Head of Investments and Savings Steven Schultz is buying...

He was a loving family man - Joe Mafela’s niece

He was a loving family man - Joe Mafela’s niece

Legendary actor, Joe Mafela popularly known as Sdumo passed away on Saturday following a car accident.

Earn peanuts? How to best invest very small amounts...

Earn peanuts? How to best invest very small amounts...

Got a spare R200 or R300 a month? Here’s how to make that money work hard and grow…