The National Student Financial Aid Scheme (NSFAS) has welcomed the recovery of more than R1.7bn by the Special Investigating Unit (SIU), calling it a major step towards good governance and a lifeline for thousands of students.
“This achievement represents not only a significant victory for good governance but also provides a meaningful boost to our core mission of supporting academically deserving students from poor and working-class backgrounds,” said the scheme.
The funds, recouped since the SIU began investigating the NSFAS, will be redirected to public universities and TVET colleges.
The NSFAS said the recovery comes as “demand for financial aid far exceeds available resources” and every rand recovered “enables the NSFAS to extend opportunities to more students, providing them with access to higher education, skills development, and a brighter future”.
The board said it remains committed to transparency and rebuilding trust in the higher education sector. It highlighted reforms such as enhanced reconciliation, data-driven reporting and plans for in-house payment systems, which are aimed at strengthening financial controls.
The NSFAS also urged institutions and former students who owe money to repay what is due. “Every repayment, whether from institutions or individual beneficiaries, directly supports the next generation of students from poor families and helps ensure the sustainability of the NSFAS scheme.”
The scheme expressed appreciation to the SIU for its “diligent efforts” and to institutions that have already settled their accounts. It said a dedicated team is working with Universities South Africa and the South African Public Colleges Organisation to finalise historical reconciliations. “Together, we affirm the values of integrity, transparency, and service to our nation’s youth.”
TimesLIVE
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