Keamogetswe Masike, President of the South African Student Federation, emphasised the need for accountability despite the R1.8 billion increase, citing persistent corruption concerns within the scheme.
Over the past two years, we've seen that executive officials at the National Student Financial Aid Scheme have been using that public purse as a personal purse to pursue their personal interests,
NSFAS provides comprehensive bursaries and student loans to deserving students enrolled in approved courses at universities and TVET colleges. However, the work done by NSFAS has been undermined. In the last twelve months, the scheme has faced scrutiny following the dissolution of its previous board and its placement under administration.
These issues led to delayed allowance disbursements, frustrated students, and the alleged involvement of the former CEO in a corruption scandal. Other contributing factors included a lack of institutional capacity and the board’s failure to implement recommendations from the Werksmans Report.
Masike highlighted recurring annual allowance payment delays, which disrupt student studies, and expressed concern over unpaid allowances from previous years.
The issue here at NSFAS is not about people who are presiding over this entity but it's about the corruption that is plugging the scheme,
NSFAS is currently concluding its closeout project and has committed to paying all outstanding funds. The scheme has also instructed institutions to allow NSFAS-funded students to register.
Regarding the issue of outstanding payments, on the 31st January 2025, NSFAS released a circular to all public institutions on measures undertaken to ensure that NSFAS-funded students are registered,
A new board and acting CEO was appointed at NSFAS.
Upon the appointment of the new board, Higher Education Minister Nobuhle Nkabane urged board members to ensure the scheme operates efficiently and effectively addresses student needs.
When you get into that organisation, turn around that organisation, review the culture, review the strategy and make sure it works, and make sure that it does not leave anyone behind.
Minister Nkabane noted that three board members have backgrounds in Chartered Accounting. Along with Chief Executive Officer Wassiem Carrim, also a Chartered Accountant, the minister expressed confidence in their ability to stabilise NSFAS’ finances.
The responsibility to resolve all these challenges rests on our shoulders.
Parliament further expressed confidence in the appointment of the new NSFAS board.
