Convert NSFAF loans into grants
THE recent graduation of about 4 400 students from the University of Namibia is a significant occasion that deserves to be celebrated and highly recognised.
This milestone not only marks the culmination of years of hard work and dedication by the graduates but also contributes to the growing pool of educated individuals in Namibia, making this one of the most educated generations the country has seen.
However, against this backdrop, one cannot ignore the status quo these graduates are going to enter. It is unfortunate to bring up the issue of youth unemployment during this joyous occasion, however, this is a reality most graduates will have to face. According to the World Bank, the youth unemployment rate in Namibia stands at 48%, and these graduates are going right into that reality. But this is only one facet of the many challenges graduates are to encounter.
Blessing to burden
The reality in Namibia is that a significant number of students cannot afford funding their higher education studies and, as a result, apply for assistance from the Namibia Students Financial Assistance Fund (NSFAF), which derives its mandate from the Namibia Student Financial Assistance Fund Act of 2000.
This Act, among others, provides for the awarding of loans and repayment of student loans, among other things.
It is speculated that most of the 4 400 graduates are beneficiaries of NSFAF.
Sooner rather than later, NSFAF will be knocking on their front doors, asking them to repay the loan they took to finance their studies. It is unrealistic and prejudicial to add to the burdens that young Namibians are already faced with.
The issue of student loan debt is dire due to the high youth unemployment rate Namibia is experiencing. This makes it difficult for graduates to find jobs
and start repaying their loans. Transformation
Speaking at the graduation, the Minister of Higher Education, Technology, and Innovation, Itah Kandjii-Murangi, told the graduates to seize the opportunities that come with acquiring a university qualification. She highlighted that Namibia, being a resourcerich country, requires a welleducated and skilled workforce to harness this wealth. I could not agree more with the minister.
NSFAF is a significant step towards addressing the financial needs of students. However, the existing economic climate calls for a re-evaluation. Given the natural wealth that Namibia possesses, there is potential to transform NSFAF into a grant, and all it requires is the political will. My call is nothing new. This has been the position of students and student leaders. We need to transform NSFAF into a grant system to better set up graduates amidst the looming unemployment rate.
• Fenny Tutjavi is the University of Namibia’s SRC secretary general of all 12 campuses. Pursuing a Bachelors’ honours degree in Public Management, majoring in International Relations and Politics. She can be reached at fennytutjavi@gmail.com