NSFAS News Today 13th March 2022
In todays latest NSFAS News – Tertiary education is very expensive and many students worry that they may not be able to pursue their desired qualification due to a lack of funds, however it has been announced that NSFAS will be funding all qualifying students.
Higher Education, Science and Innovation Minister Blade Nzimande has revealed that all qualifying students who applied for funding from the National Student Financial Aid Scheme (NSFAS) will receive funding.
This means that all students who have been accepted for accredited programmes in public universities and Technical and Vocational Education and Training (TVET) colleges will have their tuition and other expenses taken care of by NSFAS.
Minister Nzimande said:
All qualifying NSFAS students this year who have been admitted to accredited programmes at universities and colleges will be funded for the 2022 academic year.
He made this announcement following a question from a Democratic Alliance Member of Parliament, Chantel King who asked Nzimande to provide details of how the predicted R10 billion shortfall in funding for the NSFAS in the 2022 academic year will be covered.
The Minister said that the National Treasury was able to allocate R7.775 billion for the 2022/ 23 financial year and that R1.5 billion was reprioritized from the Department of Higher Education, Science and Innovations’ 2022/23 budget.
“This allocation is in line with the projected R9.3 billion shortfall for NSFAS in the 2022/23 financial year,” said Nzimande.
In terms of the long-term plan, Minister Nzimande said he appointed a task team to develop a student financing model that will address the different funding needs of students.
NSFAS funds thousands of students every year and Nzimande says that it was in the government’s plan to ensure that all students who qualify for the NSFAS bursary are funded.
NSFAS funding covers tuition costs, registration fees, accommodation costs and they provide various allowances for transport, learning materials and devices.