National Student Financial Aid Scheme To Cut Student Funding by R13.7 Billion, South Africa Reeling

National Student Financial Aid Scheme To Cut Student Funding by R13.7 Billion, South Africa Reeling

  • The National Student Financial Aid Scheme has announced significant cuts for university and college students
  • NSFAS revealed that R13.7 billion will be cut as per the National Treasury, but they will ensure that deserving students receive financing
  • South Africans sharing their opinions believe that it is unfair for the youth to suffer because of corruption

Tebogo Mokwena, Briefly News's current affairs journalist, offered coverage of current affairs and societal issues during his seven years at Daily Sun and Vutivi Business News.

NSFAS has cut financial aid to universities and colleges by over R13 billion
Almost a million students may be unable to register at universities like Wits because of NSFAS's budget cuts. Image: Photo by Papi Morake/Gallo Images via Getty Images
Source: Getty Images

The National Student Financial Aid Scheme will cut R13.7 billion in funding for students looking to further their education. NSFAS's spokesperson Ishmael Mnisi revealed that the fund consulted with the National Treasury. South Africans felt that NSFAS was robbing millions of young people of an opportunity to further their education.

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NSFAS to cut funding

According to eNCA, NSFAS has made R41.9 billion for 2023/24 and R43.7 billion for 2025/26 for universities. R9.7 billion for 2024 and R10 billion for 2025 will be available for technical and vocational education and training (TVET) colleges. Mnisi noted that the budget cuts announced by the Treasury will affect the higher education landscape.

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He added that NSFAS plans to circumvent the shortfall by budget appropriations and funding needy students. He also said that NSFAS had plans to increase funding. Mnisi pointed out that they might support fewer than one million, depending on how many qualified applicants apply. According to Mnisi, NSFAS is hell-bent on covering registration fees, tuition, learning material, living allowance, personal care and transport.

NSFAS to target undeserving students

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Mnisi noted that NSFAS would be looking to cut funding for students who do not qualify for NSFAS and said that these circumvented the system because of corruption, such as falsifying certain information. He believes that tackling these fraudulent activities will make funding available to more deserving students.

Mzansi feeling hopeless

South Africans on Facebook are not as hopeful as Mnisi is.

Humphrey M Kgafela pointed out:

“This is saddening. Our future as youth is being compromised.”

Lynda Tyrer remarked:

“The whole system is unsustainable and has been so abused.”

Lutando Shirley Layzo said:

“Hamba, ANC government. Everything you touch becomes ineffective.”

Graham Johnson asked:

“Why don’t they cut the VIP protection budget?”

Mkuseli Dibela observed:

“R13.7 billion is going to comrades’ pockets.”

NSFAS paid billions to ghost students

In a related story, Briefly News reported that NSFAS allegedly paid billions of rand to non-existent students.

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The scheme revealed that NSFAS paid these non-existent students an estimated R260.7 million monthly. This meant that NSFAS lost over R3 billion in revenue. South Africans added that this has been happening for years and believed that NSFAS's employees also benefitted.

Source: Briefly News

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