NSFAS reaches out to private sector in the face of financial uncertainty

Management for the National Student Financial Aid Scheme (NSFAS) say they know what to do but just don’t have the means to do it.

They say the student finance scheme faces a number of challenges, like its administrative budget, that didn’t match the growth of the organisation.

NSFAS on Friday briefed Parliament about its audit action plan and issues raised by the Auditor General.

The student financial aid scheme, which received about 1 million applications from financially disadvantaged students this year, told MPs about some of the problems plaguing the entity.

Chairperson Ernest Khoza told the Higher Education Portfolio Committee that the problems facing NSFAS could destabilise the higher education sector.

CEO Andile Nongongo went further saying they just didn’t have the means and have asked the private sector for assistance.

“It is a case of we know what to do, but we do not have the means to do so. However as indicated earlier, we’ve realised that we cannot wait for money that is not there. We are now looking at innovative ways of getting industry or service providers to develop systems [for us] at risk of us paying in peace meal where we can.”

Higher Education Minister Blade Nzimande this week told the National Assembly that NSFAS had managed to ensure that no students were left unfunded with over 700,000 students assisted.

-EWN

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