NSFAS funding crisis: Minister Manamela warns of R15 billion shortfall
Minister Buti Manamela reveals a staggering R15 billion funding shortfall at NSFAS, urging immediate action to address the growing financial crisis affecting South African students
South African Higher Education Minister Buti Manamela has warned of a significant funding shortfall at the National Student Financial Aid Scheme (NSFAS), with projections indicating a deficit of approximately R15 billion. This issue has escalated from R2.5 billion in 2018 to the current estimate. Manamela claims that the growing demand for higher education is putting increasing pressure on NSFAS.
Despite government's commitment to offering free higher education, the funding allocated to NSFAS is seemingly fixed within the Medium-Term Expenditure Framework and budget cycles, leading to a widening gap between the number of students requiring financial aid and the available funding. The Minister emphasized that government cannot simply address this shortfall by overspending by NSFAS but rather must find additional funds to meet the commitments made regarding free higher education.
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