Billions allocated for historic student debt
Updated | By JacarandaFM News
More than R2 billion has been allocated to cover historical debt owed by students at universities, the National Student Financial Aid Scheme (NSFAS) said on Thursday.
Around 72 000 students have already been identified by NSFAS as recipients of the additional funding.
The Chairperson of NSFAS, Sizwe Nxasana, told the media at a press briefing that no student with historical debt dating from 2013 should be turned away from universities.
"No student who meets the NSFAS means test, who has been offered a place at any public university, would be required to pay upfront payments or registration fees when registering for the 2016 academic year," he said.
No NSFAS qualifying students who have been offered a place in line with the university enrolment plans should be denied acces
— NSFAS (@NSFAS1) January 21, 2016
loans amounting to R2.543 bill assisting 71,753 identified students,who qualified for NSFAS funding but were under funded or not funded
— NSFAS (@NSFAS1) January 21, 2016
We have already paid universities & TVETs R1.8 billion for the registration fees in advance for all NSFAS qualifying students
— NSFAS (@NSFAS1) January 21, 2016
Nxasana said NSFAS will, however, not be paying for the interest that has accumulated on the students' debt.
"All of the interest which was charged by the universities already on that historic debt has to be revised, so we will only compensate and pay the universities the capital amount that is owed to them and then enter into agreements with those students," he said.
Historic debt.NSFAS will pay the capital amount owed by the student to the university for NSFAS qualifying students
— NSFAS (@NSFAS1) January 21, 2016
Role of affected students in historic debt funding. A student should have applied for NSFAS funding during 2013, 2014, 2015
— NSFAS (@NSFAS1) January 21, 2016
NSFAS will continue to charge interest on all outstanding balances, thus it is important to start repayment as soon as possible.
— NSFAS (@NSFAS1) January 21, 2016
(Photo: Samkele Maseko)
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