NSFAS receives 1.5m applications for 2024 - Nzimande
Higher Education Minister Blade Nzimande says the National Student Financial Aid Scheme has received more than 1.5 million applications for the 2024 academic year.
Nzimande briefed the media on Tuesday on the state of readiness for the new academic year.
He says over half a million of the applications have been provisionally approved.
"To date, NSFAS has 1,545,822 received applications as of the 21st January 2024, for the 2024 academic year. NSFAS has provisionally funded 657,703 applicants, who are SASSA recipients.
"NSFAS anticipates additional applications before the close of the 2024 application cycle on 31 January 2024.
"NSFAS will process up to R4.2 billion as an upfront payment to all our institutions, prior to the finalisation of the application and registration periods.
"Out of its financial reserves, NSFAS will pay R1 billion to TVET colleges and R3.2 billion to universities."
Nzimande said student debt currently sits at R40 billion, with only R110 million recovered in the current financial year.
"From the previous loan scheme, NSFAS is recovering funds from those that previously benefitted from receiving the scheme. The student debt currently sits at over R40 billion.
"In the current financial year, the scheme has already recovered in excess of R110 million," he added.
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