R700 million spent on NSFAS administration could fund 9,000 students, says Godongwana

Finance Minister Enoch Godongwana has launched a scathing attack on the National Student Financial Aid Scheme (NSFAS) Finance Minister Enoch Godongwanahas launched a scathing attack on the National Student Financial Aid Scheme (NSFAS), saying he does not see the value of the institution. Last year, IOL also reported that Godongwanasaid that if it were up to him, he would even close the institution tomorrow with his “eyes closed”. The financial aid scheme continues to face reports of mismanagement, which issaid to have severely affected its ability to effectively distribute funds to students.

He added that his criticism is not aimed at student funding itself, but at what he sees as inefficiencies within the institution. He also criticised the scheme for outsourcing work that it was created to do. “It’s nice, I’ve learned that to be Minister of Finance, you don’t have to be loved by everybody.

You just have to state the facts. NSFAS is supposed to be paying universities for student accommodation and other services, but instead, they’ve employed three other service providers to do the work they were created to handle,” Godongwana added. Last year,NSFAS CEO Waseem Carrimalsoacknowledged that corruptionremained a serious concern within NSFAS.

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alsoacknowledged that corruptionremained a serious concern within NSFAS. He added that the NSFAS board is committed to working with relevant authorities, including the Auditor-General, Public Protector, law enforcement, and the Special Investigating Unit (SIU).

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