Money Matters: A model to make university fees fall

Students at Wits University have formulated a model which shows how an individual student can pay less university fees.

The first part of the model is to explain that if the state restores its contribution into the funding mix to what it was about fifteen years ago, then it means the fees will fall for an individual student

Khaya Sithole, Chartered Accountant

Chartered Accountant Khaya Sithole, who advised the Wits students who formulated this funding model, says that the model asks for the state to restore its contribution to 50% to the cost of running a university.

Sithole says that since government decreased its contribution to the university funding mix, students have had to bare the burden of additional costs.

For example, building a res at Rhodes University is currently the responsibility of the university and the Department of Higher Education. What we are saying is since Rhodes is not in the business of building residences, we should be able to get a bank or a construction company to build that residence for Rhodes students, and then get tax rebates from the state

Khaya Sithole, Chartered Accountant

Sithole says that another element of the formula is to extract costs that can be shouldered by other people.

He says that if the financial responsibility to build student residences can fall to banks or construction companies, the state can be able to focus on their core business of research and teaching at universities.

Now that we're moving the burden away from the institution, it means that the institution has less to recover from the students. So it means the fees will fall for the student

Khaya Sithole, Chartered Accountant

Sithole introduces the formula to #NightTalk's Gugs Mhlungu and Sizwe Dhlomo.

Listen to the conversation below:

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