UNIVERSITY
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a) Rule 7.3.2 of the 2023 NSFAS ELIGIBILITY CRITERIA AND CONDITIONS FOR FINANCIAL AID was shared with all the 26 Universities in December 2022, it stated that NSFAS will make allowance for a minimum of 3 months’ notice to institutions where it intends to take over full payment of allowances.
Subsequently, a Notice was issued by the NSFAS on 03 March 2023, ...
(a) NSFAS delegated two teams led by senior officials to visit a sample of 10 universities and 20 TVET Colleges over a ten-day period from 11 September to 22 September with the objective of engaging students and institutions on the challenges they are confronting. NSFAS also established continuous engagements with student leaders in areas where issues persist.
(b) The reasons for withdrawing funding from ...
a) The historical student loan book value:
As at year ended 31 March 2022, the nominal value of the student loan book was R41.0bn (2021: R40.3bn). The net/carrying value of the student loan book, after considering the adjustments in respect of the actuarial valuation, is R5.1bn (2021: R6.4bn).
b) Debt that has been settled:
During the year ended 31 March 2022 the entity recovered ...
NSFAS currently does not categorize as specified above. Financial assessment is based on household income (threshold) of R350 000 for non-disability and 600 000 for disability applicants.
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a) The direct payment process was introduced at TVET colleges in the last quarter of 2022, with the first payment made in November 2022, although engagements had started in September 2022. The 2023 academic year saw a continuation of this allowance payment method across all 50 TVET colleges.
To fully support the students with this new direct payments process, during the January ...
a) The core responsibility of a Sector Education and Training Authority (SETA) is to develop a Sector Skills Plan (SSP) as mandated by the Skills Development Act (Act No. 97 of 1998). SETAs facilitate the delivery of sector-specific skills interventions that enable the achievement of the outcomes of the National Skills Development Plan (NSDP) and other applicable policy instruments. Research is critical in this ...
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a) The project to erect a fence surrounding the land declared as the Meerkat National Park, which includes the core site of the SKA, is managed by the South African Radio Astronomy Observatory (SARAO). A tender for the construction of the fence was published on 13 June 2023 and closed on 11 August 2023. SARAO is currently evaluating the submissions received. The project ...
a) The Department has studied the allegations against Fintech companies and regards them as very serious. The Department has engaged the NSFAS board on several occasions and is awaiting Werksmans Attorneys’ findings so that any decision taken is guided by verifiable facts and evidence, is lawful, reasonable, and procedurally fair as per legal prescripts derived from our constitution, and related legislation, including the Public ...
The Department met with NSFAS board and requested that they provide a turn-around strategy to the Minister. Furthermore, NSFAS submitted an audit plan to the Minister on 04 September 2023, which the Department will monitor monthly. In addition, the Department has been engaging with the World Bank’s International Finance Corporation (IFC) and NSFAS to ensure further research on the price cap of student accommodation ...
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