HIGHER Education, Science and Innovation Minister Professor Blade Nzimande said they are now ready to implement the first phase of the Comprehensive Student Funding Model.
He briefed the media in Hatfield, Tshwane, on Sunday, 14 January.
Nzimande said it would ensure that the missing middle students could access financial support from the government in the form of a loan to pursue their studies.
ActionSA Youth picketed outside the Tshedimosetso House, demanding Nzimande to step down.
Nzimande said that he doesn't set or increase fees but only provides guidelines.
He said he protects the National Student Financial Aid Scheme (Nsfas) as it will be raided and become inadequate.
"Please don't come out and say the Minister has increased fees. Books and everything increase every year. We don't like it, but it's a reality," he said.
Nzimande said they are working towards the finalisation of a new Comprehensive Student Funding Model based on the consideration of the recommendations of the Ministerial Task Team on the Comprehensive Student Funding Model.
He said they introduce measures to support all the categories of students, including those who are currently not supported by Nsfas.
"This category of students are those who come from families who have a total income of more than R350 000, but not more than R600 000 per annum," he said.
He said the loan scheme will be administered by Nsfas, and since 2019, Nsfas has disbursed R123 billion to 2 918 624 beneficiaries.
Nzimande said when they make further announcements after the official release of matric, Nsfas will provide details on the full implementation plan of the loan scheme.
"Our plans are divided into two phases. Phase 1 is 2024-2025. The government has committed the initial capitalisation fund totalling R3,8 billion to support the loan scheme in 2024," he said.
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He said the amount comprises R1,5 billion from the National Skills Fund and R2,3 billion from Sector Education and Training Authorities.
"This amount will fund 47% of the missing middle students, which is 31 884 of the estimated 68 446 missing middle," said Nzimande.
He said in Phase 2 of the funding Model long term 2025-2034, the department will ensure that the seed funding contribution by the government is increased from R31,6 billion to R42,1 billion over ten years.
ActionSA National Youth chairwoman Hluphi Gafane said they want Nzimande to step down.
"We want all the board of Nsfas to go. They are all incompetent. We will get things right," she said.
