The FF Plus is glad that the so-called missing middle group of students coming from households that earn too much to be eligible for NSFAS bursaries, but too little to qualify for bank loans, are getting the attention they deserve.
According to an announcement by the Minister for Higher Education, Science and Innovation, Dr Blade Nzimande, these students will from now on qualify for bursaries which will also be administrated by NSFAS.
The household income in question is between R350 000 and R600 000 per year.
The chaos at NSFAS has received a lot of attention over the past few weeks. All the FF Plus wants to respond to in that regard is the temporary appointment of Prof. Lourens van Staden as chairperson of the board. It came after the current chairperson, Mr Ernest Khosa, voluntarily stepped back amid an investigation into allegations of corruption against him.
Prof. van Staden is a seasoned academic administrator who, in addition to his former position as rector of the Tshwane University of Technology (TUT), also administrated several other universities.
The FF Plus views his appointment in a very positive light.
Nzimande said that these student loans are part of a comprehensive financing scheme on which his department is currently working. The FF Plus truly hopes that the requirements for the various groups of students will be aligned with one another.
Bursary holders from the ranks of the “poor and worker’s class”, as NSFAS usually refers to them, do not have to repay anything – regardless of their level of remuneration after completing their studies. They are also given two extra years, which are fully funded, to complete their studies.
In contrast, students from the missing middle group must repay their loans and obtain a minimum average of at least 60% to qualify for a loan the following year.
In the FF Plus’s view, all students should be registered on the South African Revenue Service (SARS) database once they receive any financial aid from NSFAS.
When they start earning an income, their loans should be repaid at an interest rate that corresponds to their remuneration.
Another issue the Minister raised is financing for post-graduate studies. In the university context, a post-graduate qualification is often required by various professional associations before the relevant profession can be practised.
Bursaries for post-graduate studies are scarce. The National Research Foundation (NRF), which currently handles it, is hopelessly underfunded and unable to meet the demand.
If all student financing is repayable, the Minister’s “comprehensive solution for student financing” can be achieved much sooner and also be sustainable.
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