Manamela pleased by NSFAS progress
HIGHER Education and Training deputy minister, Buti Manamela is happy with the progress being made by the National Student Financial Aid Scheme (NSFAS) in processing bursary applications.
NSFAS was thrown into the deep end after President Jacob Zuma announced free higher education late last year.
Manamela visited NSFAS offices yesterday where he fielded calls and assisted students that were seeking funds.
“It is important that institutions like NSFAS are top notch and up to scratch, so they can be able to deliver to those students that need it the most,’’ said Manamela.
He said most queries that came through his office were around NSFAS.
“I am excited to have seen how they operate and I am excited about the system NSFAS has put in place and I know the team is up to the challenge to deliver in one of the most challenging tasks post 1994.”
He urged those who benefited from NSFAS loans in the past to pay back the money so new students would be afforded the chance to get funding.
As of March 31 last year, NSFAS recorded a loan book with a cumulative nominal value of R29.8 billion.
Net new loans issued during the year increased by 100% to R5.4bn from R2.7bn the previous year. The valuation adjustments due to non-repayment of amounts due, deferred payment terms and concessionary rates came to 70% resulting in a net increase in loans recognised of R1.7bn.
NSFAS chief executive Steven Zwane said: “We had sleepless nights and no December break but we do it to give access to higher education to transform lives.”
They received around 312 000 applications.