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NSFAS develops new tools to ease process of paying back the money

28 February 2017 12:00 PM
NSFAS chairperson, Sizwe Nxasana, says the agency is developing tools to make it easy for past beneficiaries to pay back debt.

National Student Financial Aid Scheme (NSFAS) chairperson, Sizwe Nxasana, says there has been an improvement in the collection of money owed by past beneficiaries since the agency began working with the South African Revenue Services (Sars) in October last year.

Nxasana says the recoverable amount owed by beneficiaries is R14 billion, but only R6 billion can be recovered.

He says NSFAS is developing tools to make it easy for beneficiaries to pay back the money.

It's a small portion, given some of the problems that NSFAS had in trying to recover some of the money. But, we are now working with government departments that giving us a lot of information and data.

Sizwe Nxasana, NSFAS chairperson

He says NSFAS has seen a significant increase in the amount repayments, especially during the middle of last year.

But the system needs improvement he adds.

The system is not necessarily user friendly. We are trying to improve it so that it's easy for people to pay online and use different payment arrangements. We are developing those tools to make it easy for people to pay.

Sizwe Nxasana, NSFAS chairperson

Responding to questions regarding how NSFAS funds accommodation, Nxasana says universities choose approved private accommodation for students because other issues such transportation of students are involved.

Listen to the full interview with Sizwe Nxasana explaining NSFAS funding model below...

28 February 2017 12:00 PM