STUDENTS who still owe Nsfas for the previous years are urged to come forward.
While briefing the media on Tuesday, 23 January in Tshwane, Minister of Higher Education, Science and Innovation Blade Nzimande urged students to come forward to make necessary arrangements to pay back the money.
Nzimande was speaking on the state of readiness for the 2024 academic year.
Nzimande said from the previous loan scheme, the National Student Financial Aid Scheme (Nsfas) is recovering funds from those that previously benefitted from the scheme and that the student debt stands high at over R40 billion.
“Recoveries are currently stable. However, a lot could be done in this area to augment on the funding currently provided annually from the government,” said the minister.
“In the current financial year, the scheme has already recovered more than R110 million. I therefore want to make an appeal to students to come forward and be counted by making the necessary arrangements to commence or continue making payments in honour of the conditions of the previous loan scheme,” Nzimande said.
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Nzimande further said the Special Investigating Unit (SIU) has also begun processes to engage former loan scheme beneficiaries to ensure acknowledgements of debts and commence making payments.
“To date the SIU has secured acknowledgements of debts to the value of over R4 million of individuals and over R38 million of institutions and these funds are being held in the trust at the unit. Both the unit and the scheme are engaging in the processes to return these funds,” he said.
Nzimande further called on all institutions to submit the lists of Nsfas funded students who have been registered on fraud and corruption allegation as it was previously reported. He said the board is currently implementing all the recommendations.
On the issue of outstanding allowances, the minister said there is still some verifications that needs to be done.
“This arose as a result of incorrect claims of the institutions made and that is being addressed accordingly. We will in a week’s time give an update on all outstanding allowances that are still left unattended.”
