The latest news about NSFAS today
Latest News About NSFAS Allowance 2022: National Student Financial Aid Scheme (NSFAS) Has Received 906 429 Applications for the 2022 academic year, And 85% of these were first time applicants. NSFAS is Ready to find all applicants for the academic year 2022 . Mr Nzimande was speaking to media for the Post School Education and Training sector for the 2022 academic year on 01/02/2022
Students To Be Funded in 2022
And the good thing about this is all SASSA Beneficiaries who applied for NSFAS funding will be funded by NSFAS as long as they are accepted by the university. Mr Blade Nzimande also confirmed that the Department will be able to fund all qualifying students that have been approved in public universities and TVET Colleges .
About NSFAS Allowance 2022
The South African government has contributed the amount of R1.7 billion to NSFAS and the due diligence exercise that was undertaken in 2018 towards the historic debt of registered NSFAS funded students.
NSFAS Undertaking was towards debt relief for qualifying students registered at universities before 2018 whose household income is below R120 000 combined
The Minister continues stating that NSFAS funded students who were accepted before 2018 owe more than 5.3 billion till to date .
Furthermore , the Higher Education Department is also developing recommendations for a comprehensive student financial aid model as a means to address issues relating to financial aid and student debt for the year 2022.
Minister Blade Nzimande says that the model will incorporate existing funding from the state as well as other alternative sources of funding including government bursaries.
He Further said that a ministerial task team appointed last year is due to publish a report on the development of a new student financial aid within the first half of 2022 Academic Year.
NSFAS News Update 2022
The ministerial task team has also engaged the Banking sector to develop an affordable loan scheme for students who do not meet NSFAS eligibility criteria.