A fundraising initiative, run by Universities South Africa (USAf), has recently crossed the R1 billion mark. The initiative aims to cover historical debts owed by students as well as other expenses
In August 2020, USAf the umbrella organisation which represents the 26 public universities in the nation pledged to generate R1 billion in 24 months to help pay off students' historical debts.
The funds are also intended to support those who are currently enrolled with fees and study assistance. Donor contributions totaled over R1,152,002,876, benefiting over 27,000 students.
Some of the money raised by USAf was also intended for postgraduate students who, due to financial restrictions, were unable to apply for grants from the National Research Foundation.
These students are from working-class households with yearly incomes ranging from R350 000 to R600 000, however, they do not meet the requirements for study loans from commercial banks.
In accordance with its Board's directive, USAf’s Director: of Operations and Sector Support, Dr Linda Meyer has also stated that they will keep up their fundraising efforts. The organisation is currently in discussions with current and potential funding partners to better assist the students in need.
Our focus is on securing multi-year agreements to support poor and missing middle-income students (undergraduate and postgraduate) that do not qualify for National Student Financial Aid Scheme (NSFAS) or National Research Foundation (NRF) financial support,
Although they may have only partially resolved the issue, 120 000 students are still unable to complete their degrees due to student loan debt.
