Cape Town – Higher Education, Science, and Innovation Minister Blade Nzimande has announced a new Comprehensive Student Funding Model with a R3.8 billion initial capitalisation fund to support “missing middle” students.
These students come from families with an annual income of more than R350,000 but not exceeding R600,000.
The funding model, divided into two phases, begins this year, with the initial capitalization funding 47% of the estimated 68,446 missing middle students.
“This amount will fund 47% of the missing middle students, that is, 31 884 of the estimated 68 446 missing middle,” the minister said on Sunday during a media briefing in Pretoria.
“We have also committed funds to revive NSFAS ICT [information and communications technology] systems, including the loan system.”
The second phase aims to increase government seed funding to R42.1 billion over 10 years.
The loan scheme, administered by the National Student Financial Aid Scheme (NSFAS), targets technical vocational education and training (TVET) and public university students, covering tuition, learning materials, and accommodation.
Criteria include meeting income thresholds, pursuing specified programs, signing a loan agreement, maintaining a 60% pass rate, and obtaining reductions for high academic achievement.
The scheme is viewed as a significant step in addressing social inequality in post-school education.
NSFAS, between 2019 and 2022, disbursed R123 billion to over 2.9 million beneficiaries.
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Compiled by Betha Madhomu
