NSFAF News today On Funding

NSFAF News today On Funding

In todays latest NSFAF News – The Namibia Students Financial Assistance Fund (NSFAF) says it has a N$400 million funding shortfall from the required N$2-billion budget.

The Fund received only N$1.6 billion for the fiscal year 2023, which can only accommodate half of the new awardees.

This comes after 22,178 or 74% of the 30,124 applications received were eligible for funding this year, a 30% increase over the previous year’s total of 23,696 applications.

“This is an increase of 30% when compared to 17,096 eligible applicants during the 2022 academic year. This leaves 7,946 or 26% of applicants ineligible for funding during the 2023 academic year,” NSFAF’s Acting CEO Kennedy Kandume said.

Namibia Student Financial Assitance Fund (NSFAF) provides financial assistance to eligible students at approved tertiary educational institutions.