The National Student Financial Aid Scheme (Nsfas) has indicated that there will be an increase in the number of students who qualify for funding, in both universities and TVET Colleges, but clarified that this would be covered within the allocated budget.
It has been projected that 337 224 TVET College students will qualify for bursaries in 2023 compared to 227 110 funded in 2022.
Over the past five years, it has been evident that there is an increasing demand for funding by the government bursary scheme.
As the Department of Higher Education and Training (DHET) and relevant stakeholders are preparing for the 2023 academic year, on behalf of Nsfas, the bursary scheme’s CEO Andile Nongogo has shared the following in a presentation:
There is a projected 48% increase in students qualifying for the bursary, resulting in a budget shortfall of R1.9 billion in the TVET sector, fortunately, this shortfall will be covered in the previous year’s savings.
According to Nsfas, the amount required in December 2022/January 20223 for TVET Colleges was R1.9 billion and at least 50% will be needed for funds to be disbursed at the start of the 2023 academic year.
Nsfas will require R3.5 billion to cover the beginning-of-year allowances for three months (February to April 2023), including allowances for medical students that should be paid in January 2023.
According to Nongongo, here are other predictions for Nsfas for 2023:
- 394 115 continuing students + 165 111 new applicants = 559 226 university students in 2023 costing department R39 138 662 187 with an average cost of R69 987 per student
- 337 224 TVET students costing R8 855 149 104
The Scheme has identified other funder resources that can be used and reimbursed at a later stage.
Former student leader and #FeesMustFall activist, Fasiha Hassan, has pointed out that the government should provide more resources to make access to higher education possible.
The government has shared that there is work being done to strengthen basic education and the growth of post-school education will ignite the skills revolution.
