Higher Education and Training Minister Buti Manamela has welcomed the recovery of R1.7 billion by the Special Investigating Unit (SIU), which has been returned to the National Student Financial Aid Scheme (NSFAS).
The recovered amount forms part of R2 billion that the SIU has so far reclaimed from universities, Technical and Vocational Education and Training (TVET) colleges, as well as unqualified former NSFAS beneficiaries.
The funds, which were unallocated between 2016 and 2021, represent financial resources originally earmarked for students who qualified for funding but later changed institutions or deregistered.
In a statement issued on Wednesday, Manamela said the recovered funds will be redirected towards meeting the needs of deserving students at institutions of higher education and training.
“The recovery of these funds is a significant step in restoring integrity, accountability and public confidence in the administration of student financial aid. Every rand allocated to NSFAS is public money intended to support students from poor and working-class families, and it must be protected and used strictly for that purpose,” Manamela said.
The SIU commended NSFAS for strengthening its systems and moving towards better governance.
READ | SIU returns R1.7bn to the NSFAS purse
As part of the broader recovery effort, the SIU has collected R126 478 184.64 from 1 055 parents and unqualified former NSFAS beneficiaries who signed acknowledgements of debt (AoDs), agreeing to repay the funds over time.
The SIU has urged unqualified NSFAS beneficiaries, who have not yet made contact to with the unit, to come forward and make arrangements for repayment.
Manamela reaffirmed his support for the SIU’s mandate to investigate corruption, fraud and maladministration within Post-School Education and Training (PSET) institutions, and to recover any financial losses suffered by the State. – SAnews.gov.za
