Latest news with #R10.46bn
TimesLIVE
3 days ago
- Business
- TimesLIVE
Should NSFAS stop funding institutions that fail to account for student money?
Higher education minister Nobuhle Nkabane says universities and Technical and Vocational Education and Training (TVET) colleges owe the National Student Financial Aid Scheme (NSFAS) R11.94bn for the 2017 to 2023 academic period. Universities account for R10.46bn of the debt, while TVETs owe R1.48bn. The amounts are still being reconciled, with institutions expected to sign agreements on assets and liabilities related to student accounts. NSFAS is preparing reconciliations for 2024. This comes amid ongoing challenges with NSFAS funding and student accommodation, highlighted by recent protests at the Northern Cape Urban TVET College over delayed allowances. The DA has urged NSFAS to use recovered funds to ensure students receive allowances on time and to prevent midyear defunding, which forces students to abandon their studies or face hardship.
TimesLIVE
3 days ago
- Politics
- TimesLIVE
Universities and TVETs owe NSFAS R11.94bn, says Nkabane
Higher education and training minister Nobuhle Nkabane says universities and Technical and Vocational Education and Training (TVET) colleges owe the National Student Financial Aid Scheme (NSFAS) R11.94bn for the 2017 to 2023 academic period. This was revealed in a written parliamentary question from the DA. Universities owe R10.46bn, while TVETs owe R1.48bn. Nkabane said the amounts are subject to a reconciliation process between NSFAS and the institutions. 'Institutions are expected to sign an agreement on assets and liabilities relating to the student accounts,' she said. 'NSFAS is preparing the 2024 reconciliations.' This comes amid challenges facing NSFAS, including student accommodation and funding issues. Recently, students at the Northern Cape Urban TVET college in Kimberley protested by burning offices because of delays in receiving their NSFAS allowances. The DA urged NSFAS to use the recouped funds to address some of the issues faced by students. 'Given the recent mid-academic year defundings of NSFAS students that force many of them to abandon their studies or leave them destitute and hungry, the DA encourages NSFAS to use the recouped funds to ensure students receive their allowances on time and to ensure no student is defunded midyear, especially if NSFAS previously indicated they would be funded. 'While the DA understands NSFAS must root out payments to students who do not meet the funding requirements, midyear defundings is a NSFAS failure to process students correctly and in time and should not be used to punish students.'
