CAPE TOWN - South African graduates and drop-outs collectively owe the National Student Financial Aid Scheme (NSFAS) a total of R10.150 billion, reports The New Age.
This is according to Higher Education and Training Minister, Hlengiwe Mkhize.
This towering student debt was revealed in written replies to Parliamentary questions.
The Minister claims that 166 724 graduates owe R6.148 billion of the R10.150 billion.
The remaining R4.002 billion in the student debt ledger is owed by those students who have left tertiary institutions without completing their studies.
Mkhize divulged NSFAS student debt when probed by MPs, the DA’s Mbulelo Bara and the EFF’s Moses Mbath.
The members of parliament wanted to learn the extent of student debt that has accumulated.
However, Mkhize assured the MPs that the NSFAS debt scheme only requires students to repay their debt once they are financially sound.
She added that NSFAS only wrote off debt in the occurrence of the debtor being deceased or disabled.
Meanwhile, President Jacob Zuma on Monday released his much-anticipated Fees Commission Report.
The Commission was tasked with assessing the feasibility of free higher education.
Based on the Commission Report, there is a recommendation for government to increase its expenditure on higher education and training to a minimum of 1% of GDP.
The report further recommends that TVET colleges subsidise all fees in the form of grants and that “no student shall be partially funded”.
Read the full report: Here
- BUSINESS REPORT ONLINE