Question NW3254 to the Minister of Higher Education, Science and Innovation
10 November 2023 - NW3254
Chirwa, Ms NN to ask the Minister of Higher Education, Science and Innovation
(a) What is the proposed funding alternative which he mentioned in a press release about the National Student Financial Aid Scheme on 19 September 2023, (b) by what date does he envisage the specified alternative funding will come to fruition, (c) who will be the main source of funding behind the initiative and (d) what total number of students will the initiative cater for?
Reply:
- Comprehensive Student Funding Model
- As soon as it is approved by cabinet in November.
- The seed funding behind the initiative will be sourced from the National Skills Fund (NSF), SETA’s, BBBEE Code 300 skills fund as prescribed in legislation, and banks.
- It is estimated that about 11% of university students constitute the missing middle who are not eligible for state funding, although some non-funded NSFAS students can also be defined as the missing middle.