Students previously funded by the National Student Financial Aid Scheme (NSFAS) have been coming forward to pay their loans with the hopes of helping others head to university, its CEO has said.
NSFAS CEO, Msulwa Daca, said the scheme had launched a recovery project in September and since then, it started raking in about R5m a month.
"We think that in 12 or 18 months to come, we will have added another R50m per month into the system," he said.
Daca was delivering a report at a round table discussion attended by student representatives from 26 universities around the country.
Earlier, Higher Education Minister Blade Nzimande attended the presentation. He interacted with students, talking to them about their concerns. Drawn-out protests recently saw students abandoning academic activities and disrupting their final examinations.
The students demanded, among other things, free education and a clearing of their existing debt.
Daca highlighted that the funds that NSFAS injected into universities never decreased. He added that in the coming year, the 26 universities would receive an increase.
"By December 11, all 26 universities should receive a signed letter from DG of how much they will be getting in 2016," he said.
Daca explained that every year, NSFAS paid 30% of the expected NSFAS funds to the universities.
" to ensure that they do not use the lack of cash flow for failing to immediately give students allowances," he said. "This will also prevent them from demanding registration from students who are not expected to make family contributions."
More NSFAS students are paying back the money - CEO
NSFAS CEO, Msulwa Daca, said the scheme had launched a recovery project in September and since then, it started raking in about R5m a month.
"We think that in 12 or 18 months to come, we will have added another R50m per month into the system," he said.
Daca was delivering a report at a round table discussion attended by student representatives from 26 universities around the country.
Earlier, Higher Education Minister Blade Nzimande attended the presentation. He interacted with students, talking to them about their concerns. Drawn-out protests recently saw students abandoning academic activities and disrupting their final examinations.
The students demanded, among other things, free education and a clearing of their existing debt.
Daca highlighted that the funds that NSFAS injected into universities never decreased. He added that in the coming year, the 26 universities would receive an increase.
"By December 11, all 26 universities should receive a signed letter from DG of how much they will be getting in 2016," he said.
Daca explained that every year, NSFAS paid 30% of the expected NSFAS funds to the universities.
" to ensure that they do not use the lack of cash flow for failing to immediately give students allowances," he said. "This will also prevent them from demanding registration from students who are not expected to make family contributions."
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