WITS HEADS FOR DEFICIT
Wits University is expected to record its first deficit in 11 years in 2017, as outstanding debt and rising operating costs put pressure on its finances, Business Day reported. The university was owed more than R405m at the end of 2016, with students owing R208m and the National Student Financial Aid Scheme owing R67m. Operating costs total about R300m a month. The university objected to a request by government to let students with historic debt register and enter into a payment plan, saying it was in breach of the Credit Act, which states that loans cannot be granted to people who can’t afford to pay it back.