Paul Mashatile: New NSFAS funding model proposal expected before Cabinet by 2024
Deputy President Paul Mashatile says he expects a proposal for a new funding model for the National Student Financial Aid Scheme (NSFAS) to be put before the Cabinet before the end of 2023.
The tertiary education funding scheme was thrown into disarray recently as students battled to get their monthly allowances, and the former CEO was fired over irregular procurement.
Answering questions in the National Assembly on Thursday, Mashatile said the government wanted to be sure that a new funding scheme would also accommodate the “missing middle”, who would be allowed to take loans to fund their studies.
“The proposed funding model seeks to ensure that in the new academic year, particularly 2024, there will be the following: a retention of existing funding for poor students in the income bracket of R0 to R350 000 per annum per household, [and] a funding strategy for the missing middle, which includes engaging with the financial sector to support by providing loans to students within that bracket.”
Mashatile said an investigation into problems experienced with direct payments, including the appointed service providers, is still underway.
But he said Cabinet did have a first look at a new funding model for the R50 billion scheme.
“The minister of higher education did present that model to Cabinet. He has been working hard with his team to ensure that we do meet the demand of our students,” said Mashatile.
-EWN
In other news – Zahara celebrates 36th birthday with a heart-melting message
Well-known South African singer and songwriter, Bulelwa Mkutukana, professionally known as Zahara announces her 36th birthday. The singer expresses gratitude to the people who have shown her love and support.
“Today I celebrate 36 years of God’s grace, mercy, and kindness. To my beautiful family, friends, fans, and the Zahara Army worldwide, ndiyabulela kakhulu for your love. You guys have supported me through the highest heights and lowest of lows. Read More
