(1) In March 2021, the Department requested universities to complete a student debt survey template with the aim of providing the best possible data on the total student debt as at 30 December 2020. This work will feed into the review requested by Cabinet on government policy in relation to student financial aid, including the “missing middle” and the sustainability of institutional funding (block grants, earmarked and infrastructure funding).
(2) The Minister will appoint a task team to review the sustainability of and options for the post-school education and training student financial aid system. The focus of the review will be on the sustainable modelling of the National Student Financial Aid Scheme (NSFAS), as well as to explore a different public-private sector mechanism to enable better support for the “missing middle” income bracket. Once concluded this will be tabled for Cabinet’s consideration.