Parliament’s Portfolio Committee on Higher Education has announced that the new funding model will provide essential support for middle-class students who do not qualify for the National Student Financial Aid Scheme (NSFAS).
Committee Chairperson Tebogo Letsie explained that these students can now apply for financial assistance, which will be administered by NSFAS and cover both tuition and housing costs. So far, 17,000 applications have been received, and the program is set to run for ten years.
“When fully implemented by 2035, we anticipate a budget of approximately R41.7 billion. This year alone, bursaries amount to R48 billion,” said Letsie.
He added that the total cost is expected to reach between R110 billion and R115 billion over the program’s duration, with around R40 billion allocated to low-income students and R60 billion to R70 billion directed towards bursaries.
VOC News
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