NSFAS increases 2015 student loans
The National Student Financial Aid Scheme (NSFAS) has allocated R9.5 million in bursaries and loans for eligible students this year, the Higher Education and Training Minister Blade Nzimande said.
The National Student Financial Aid Scheme (NSFAS) has set aside R9.5 billion in bursaries and loans for students in 2015, Higher Education and Training Minister Blade Nzimande said. This year’s budget had increased by R1.2 billion on last year’s amount.
NSFAS provides loans and bursaries to students at 26 public universities and 50 public technical and vocational education and training (TVET) colleges throughout the country. Nzimande said 205 000 first-time students would be funded at universities and 200 000 students at (TVET) colleges.
“In 2014, NSFAS provided student loans and bursaries totalling over R8.3 billion, which excluded the once-off allocation of R1 billion for the servicing of the 2013 shortfall of R700 million and 2014 shortfall of R300 million,” he said.
In addition to NSFAS funding, Nzimande said the National Skills Fund (NSF) would also contribute R562.9 million to students who would be studying towards critical skills programmes that are most needed for the growth of the economy. “This funding is made available through the financial aid offices at universities. Students wishing to make use of these bursaries are advised to enroll for critical skills, which include science, commerce, health science and engineering.”
In September last year, violence ensued at the Tshwane University of Technology when students protested against NSFAS. According to the students, the financial aid scheme demanded that they start paying their fees, as the budget had been depleted.
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