NSFAS Latest News Today 14th April 2023 with Blade Nzimande
In todays latest NSFAS News – The National Student Financial Aid Scheme (NSFAS) has provided aid to millions of low-income and formerly disadvantaged college-bound students.
The National Student Financial Aid System (NSFAS) is a highly sought-after bursary program that helps students from low-income families pay for higher education. In addition to the normal conditions for admission to the institution in question, applicants must also demonstrate that their annual household income is less than R350 000.
More than a million students apply for funding under the bursary scheme annually. More over 1.5 million applications were submitted to NSFAS in 2023, and roughly 900,000 were awarded money.
Students who did not obtain money may have been turned down due to a combination of factors, including a lack of available spots at public universities and a failure to otherwise qualify.
Higher Education Minister Blade Nzimande discussed the success of the government’s bursary program and the increasing number of students who are eligible to receive aid in an interview with PowerFM on Wednesday.
NSFAS provides financial aid to more than 90 percent of students enrolled in South Africa’s Technical and Vocational Education and Training (TVET) programs. According to the Minister, this demonstrates how far the country has come in terms of expanding educational opportunities.
Nzimande continues by saying that college students who receive NSFAS funding do really well. Students on NSFAS have a slightly higher passing percentage than those without it, at just over 70%.
While these numbers are obviously cause for concern, they do indicate that funding for disadvantaged kids is being put to good use.
The current average university dropout rate in South Africa is 32.4%, but it is just 20.8% among financially supported students. The reduced dropout rate among NSFAS students likely accounts for their better success rate.
They are not victims; with encouragement and help, they will succeed, as these numbers demonstrate.
The Minister is of the opinion that we should not automatically expect lower academic achievement from economically disadvantaged pupils. Deserving students have the same potential to succeed and thrive in elite universities as their more wealthy peers if given the chance to do so.
The number of students enrolling in universities and TVET programs, as well as the number of applications received by NSFAS each year, are both expected to rise dramatically as higher education becomes more affordable for students from lower and moderate income backgrounds.
