R15bn budgeted for tertiary loans
NSFAS ALLOCATION INCREASED BY BILLIONS BUT 53 043 STUDENTS DID NOT GET FUNDING
THE National Student Financial Aid Scheme (NSFAS) will benefit well over 400 000 students on a budget of R15-billion for the 2017 academic year, a significant n increase from last year.
The new budget has been confirmed by Minister of High Education and Training Blade Nzimande.
The NSFAS’ budget has increased significantly over the past few years.
The scheme also recovered more than R66-million from more than 22 000 debtors as at the end of June.
This figure was confirmed by NSFAS spokesperson Kagisho Mamabolo in August in an interview with Sowetan.
NSFAS chairman Sizwe Nxasana said in Pretoria yesterday that 309 788 applications for university and Technical and Vocational Education and Training (TVET) college students had already been approved.
From the 2017 budget, Nxasana said they expected to fund over 405 000 students who were funded last year at both universities and TVET colleges.
“Given the completion of some academic year examinations in January 2017 in certain universities‚ there are also more qualifying students whose results are being evaluated which will increase the numbers of funded students‚” said Nxasana.
“We plan to add more than 100 000 students to the already 309 788 students already funded.”
Of the total number of applications received 53 043 were unsuccessful, while 3 760 were being reviewed.
He said the two key reasons were for unsuccessful applications was either that students did not meet the means test as they come from households that earn above R120 000 a year or because of poor academic results.
Students whose applications had been declined could still appeal and their appeals must reach NSFAS on or before February 28.
Nxasana said 2017 will be the first year that NSFAS would fully roll out a model at universities and TVET colleges‚ which would allow students to apply directly to NSFAS for funding and not have to go through financial aid offices on campus.
“Students will apply directly to us and we will notify them whether their application was successful or not. One of the benefits is that if they do receive funding the allowance goes directly to students and they manage it themselves‚” he said.
While the successful students are looking forward to the new academic year, Antlahla Ralo is one of many other students whose applications for funding were unsuccessful.
Now Ralo is frustrated and unsure how she will study at university this year.
Ralo, 19, from Uitenhage near Port Elizabeth, has been accepted to study for a diploma in accountancy at Nelson Mandela Metropolitan University – but since receiving an SMS saying she did not meet the financial criteria – she does not know if this will happen.
Ralo, whose mother is a teacher, said there was no way she would be able to afford university fees.
“My mother is the only one working in my family. Me and two of my siblings, my grandmother and other extended family all depend on her salary and I know she won’t be able to pay for my fees.
“She always says that a teacher’s salary is not enough and already has a lot on her plate,” Ralo said.
“I’m really frustrated, I do not know what’s going to happen to me and my last hope is probably a student loan but I don’t know whether I will get that.”