5 Things NSFAS MUST and will Consider Changing in 2017

5 Things NSFAS Will Consider Changing in 2017

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The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017

NSFAS chairperson Sizwe Nxasana explained in detail how the comprehensive model will work.

There are a number of issues which the current model of NSFAS does not address.
— Sizwe Nxasana, NSFAS chairperson
5 Things NSFAS Will Consider Changing in 2017

1. The new funding model will have a relative means test to determine a family’s disposable income to include the so-called ‘missing middle’.

2.To address the high dropout rate of poor students from tertiary institutions, the model will provide extra academic and psychosocial support in addition to funding.

3. The new model will seek funding from government and alternative sources such as the private sector, financial institutions and NGOs.

4. The model will work with universities and employers to provide incentives for programmes that lead to graduate employment.

5. NSFAS says those who are beneficiaries and refuse to repay their loans will face normal debt repayment processes.

Source: 702.co.za


We will blacklist non-paying students (NSFAS)

Johannesburg – Debtors who owe the National Student Financial Aid Scheme (NSFAS) may end up blacklisted, NSFAS chairperson Sizwe Nxasana warned on Thursday. ‎

“People who are unwilling to pay and are earning an income, we are simply going to follow the normal debt recovery process in a way which is a lot more robust and efficient,” Nxasana told journalists.

NSFAS held a media briefing to outline their funding model for the year ahead.

Nxasana told journalists they were still owed R21bn in loans and of that they had recovered over R200m. Half this debt came from current students, while the other half came from beneficiaries in the job market.  ‎

“All loan recipients should be made aware of the importance of repayment. Whilst there have been challenges, at this point much more vigilant and diligent action will yield positive results,” he said.

Nxasana implemented a new campaign to recover debt since October last year. Through the campaign, NSFAS had collected R8.5m from 12 000 first-time payers.

He said recovery would now be based on the salary that was earned and this would start once the salary was R30 000. This would mean a beneficiary would pay R900 a year on a R30 000 salary, or R84 per month.

Souce :News24.com