The National Student Financial Assistance Scheme (NSFAS) will receive a budget of Rs 49 billion in fiscal year 2022/23.
Minister of Higher Education, Science and Innovation Dr Blade Nzimande, who voted on the budget for 2022/23, said the allocation reaffirms the government’s commitment to financially support students from poor and working families, “while creating a sustainable mechanism supporting students from so-called “missing middle schools” and graduate students ”.
Nimande said the National Skills Fund will also provide budget support for scholarships and scholarships for the 2022/23 fiscal year of Rs 866 million.
The figure is Rs 221 million for the National Research Foundation (NRF), Rs 527 million for the National Student Financial Assistance Scheme (NSFAS), Rs 80 million for the Ministry of Agriculture, Land Reform and Rural Development (DALRRD) and Rs 37. 9 million for an internal DHET scholarship.
In total, the minister said, sectoral education and training bodies (SETAs) have spent Rs 701.9 million to support missing middle-aged students.
He said the various scholarships and loan schemes run by the institutions are another source of funding.
“As part of developing our comprehensive student funding model … we are involving both public and private financial sector components to develop a funding model to support low-income students and graduate students who are unable to secure funding from the National Research Foundation.” .
Nimande said the ministerial task force was already involving the Banking Association of South Africa, and significant progress had been made in that regard.
The ministerial task force is expected to present its final report to the minister by the end of May this year.
Improving the sector
The budget of 26 universities for 2022/23 and 2023/24 medium-term expenditure (MTEF) provides a budget of 7.584 billion rupees, of which 2.953 billion rupees go to student housing to provide 16,858 beds in 11 universities.
Of these, 15,898 new beds and 960 renovated beds.
Nimanda acknowledged that more needs to be done.
“Obviously, 2.953 billion rupees is not enough for student living, so we will look for partnerships with the private sector, including those that already show that they are investing on their own.”
The ministry, Nzimande said, in the current financial year will study the feasibility study of a new university of science and innovation and a crime detection agency worth 6 million rupees.
He said he had intensified and expanded the Imbali Education and Innovation Precinct project as a pilot study and test of an alternative way of providing education based on closer inter-educational cooperation and institutional cooperation and science-innovation links.
This integration, Nzimande said, ensures that the country produces a comprehensive student willing to take positions in the country’s economy and society.
90 million rupees will be allocated for this project during the fourth cycle of infrastructure and efficiency grants (IEG).
An allocation of Rs 182.11 million was recommended for the current MTEF.
The next site to be created will be in Gianni, Limpopo, where the campus will be established.
The government has allocated 10 million rupees for the expansion and relocation of Zululand University faculty to the former Zululand parliamentary district in Ulundi.
“We are also building a Sekhukhune Skills Development Center worth Rs 146.9 million through our wholesale and retail SETA in collaboration with Sekhukhune TVET [Technical and Vocational Education and Training] College, ”Nzimande said.
In the current fiscal year, the department added a number of campus-level projects to the RUR 2.9 billion infrastructure initiative.
The ministry’s budget for fiscal year 2022/23 was Rs 130.1 billion. – SAnews.gov.za