Nsfas

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Ms. PR Mashangoane (ANC) to ask the Minister of Education:
Who benefits from the National Student Financial Aid Scheme?
N02944E
REPLY:
The National Student Financial Aid Scheme remains the most important
government intervention in widening access to higher education. The total
number of students supported to date is 479,589, and nine out of ten
awardees are African. Currently, one in four undergraduate students has a
NSFAS loan. Fully supported students are those whose family income is less
than around R100,000 a year (depending on the way family income is
calculated), and partially supported students are those whose family income is
less than up to R160,000 a year. In other words, students from families with a
household income of less that R8,000 a month are likely to qualify for financial
aid.
In 2006/07 the sum of R1.4 billion, which included R300 million from repaid
loans, was allocated to higher-education institutions. This sum funded
125,000 awards to 108,000 students enrolled at all public universities (with
semesterisation students can receive more than one loan in a year). The fund
has grown significantly over the past year with the additional management of
teacher-education bursaries, FET-college bursaries, and social-work
bursaries.

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