NSFAS's Nxasana assures R14 million lost to student will be recovered

Following a multi-million rand student aid blunder at the Walter Sisulu University (WSU), the National Student Financial Aid Scheme (Nsfas) chairman Sizwe Nxasana has assured taxpayers that their money is safe.

Higher Education Minister, Blade Nzimande and Nxasana hosted a group of donors who are assisting in the country's missing middle funding crisis in Johannesburg on Friday.

It was revealed that a student at the WSU university had mistakenly received over R14 million in June from funding administrative company IntelliMali.

EWN reporter Thando Kubheka was at the press briefing. She says the pair met with the donors who play a role in contributing towards the higher education sector and raising funds to invest in education in the country.

Nxasana said the students who want to receive funds from NSFAS will continue receiving it despite the bungle.

Thando Kubheka, EWN reporter

He said the money will be recovered and people will be held responsible especially the company trusted with distributing the funds.

Thando Kubheka, EWN reporter

WSU is also expected to compile and send a report detailing who made the blunder, reports Kubheka. She adds that the Special Investigating Unit (SIU) has been brought in to investigate the matter.

Take a listen:


Recommended

by NEWSROOM AI
Read More
Wits Nehawu members down tools over salaries

Wits Nehawu members down tools over salaries

Nehawu Wits acting secretary Tumisho Madihlaba says negotiations with management deadlocked resulting in a strike.

Spending money that isn't rightfully yours could land you in court, says Pasa

Spending money that isn't rightfully yours could land you in court, says Pasa

The Payments Association of SA (Pasa) says spending and withholding money that is not yours could result in legal action.

WSU blocks student account after R14m error

WSU blocks student account after R14m error

The University spokesperson says the student is aware that she has to pay the R500k back as it is a loan.

WSU makes costly mistake by depositing R14 million into a students account

WSU makes costly mistake by depositing R14 million into a students account

We understand that this is money the university will need to account for says Kagiso Mamabolo, NSFAS Spokesperson.

May the Fourth be with you, a celebration of Star Wars Day

May the Fourth be with you, a celebration of Star Wars Day

May 4 marks "May the Fourth be with you," Day celebrated by fans George Lucas' fans of his Star Wars global movie franchise.

Watch the latest footage of the #NationalShutDown for the #FeesMustFall campaign

Watch the latest footage of the #NationalShutDown for the #FeesMustFall campaign

A collection of the latest video footage from #FeesMustFall, where a number of tertiary institutions have come to a standstill.

Popular articles
'My hubby is 75 and we still do it' - stories about sex on the other side of 50

'My hubby is 75 and we still do it' - stories about sex on the other side of 50

Is biology putting the brakes on your sexuality? Callers share their experiences of sex and growing older.

'Some weed plants with high levels of chemicals have been linked to psychosis'

'Some weed plants with high levels of chemicals have been linked to psychosis'

Naked Scientist, Chris Smith shares his insights on some of the risks associated with smoking marijuana.

How to get rich by investing in smoking hot US and Canadian dagga shares

How to get rich by investing in smoking hot US and Canadian dagga shares

Returns of 500% are not unheard of. Is this another crypto-like bubble? Not in the least, says Financial Advisor Warren Ingram.

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

'It is quite a milestone, it is a humbling experience'

'It is quite a milestone, it is a humbling experience'

Cosatu President Zingiswa Losi says being elected is a milestone not only for the women of SA but also for the women of Africa.

DStv Premium on a downward spiral, warns tech guru

DStv Premium on a downward spiral, warns tech guru

DStv has lost about 140 000 Premium subscribers to Netflix over the past two years, tech expert Arthur Goldstuck.

[LISTEN] 'Lesufi has been attacking Afrikaans schools since 2014'

[LISTEN] 'Lesufi has been attacking Afrikaans schools since 2014'

The Freedom Front Plus says the Gauteng Education MEC has flouted school language policies and is destroying Afrikaans.

'My daughter bought Spur shares when she was 10 years old' - Dr Adrian Saville

'My daughter bought Spur shares when she was 10 years old' - Dr Adrian Saville

What does Citadel’s famed disciple of contrarian, deep-value investing Dr Adrian Saville hope for (and fear) about money?