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University NSFAS Funds Recovered By SIU

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University NSFAS Funds Recovered By SIU

University NSFAS Funds Recovered By SIU. The Special Investigating Unit (SIU) has recovered millions of rands from universities following an investigation into the National Student Financial Aid Scheme (NSFAS). The investigation revealed that funds intended for NSFAS were not returned as required by the institutions.

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University of Pretoria Settles R400 Million Debt

As part of the ongoing investigation, the University of Pretoria (UP) settled its debt of R400 million with NSFAS. This payment was made in four instalments of R100 million each into the SIU’s Trust account. The funds were initially allocated for NSFAS but remained unallocated by the institution, meaning they were not used for their intended purpose and should have been returned to NSFAS.

Reasons Behind Unallocated Funds

The unallocated funds represent money intended for students who qualified for funding but either changed institutions or deregistered. These funds should have been returned to NSFAS after a year.

SIU Ongoing Investigations

Since the start of its investigation in September 2022, the SIU has recovered over R930 million from institutions of higher learning. The investigation was initiated by Proclamation R88 of 2022, signed by President Cyril Ramaphosa, granting the SIU authority to investigate various matters concerning NSFAS.

Other Institution Repayments

Apart from UP, several other institutions have made repayments to NSFAS:

  • West Coast College: R5,057,679.00
  • NorthLink College: R33,369,404.97
  • Walter Sisulu University: R19,900,174.00
  • Nkangala TVET: R342,672.50
  • University of Johannesburg: R311,892,088.94
  • University of Zululand: R58,088,144.65
  • Majuba TVET College: R25,902,309.31
  • University of Mpumalanga: R33,668,138.56

Additionally, the SIU has signed an acknowledgment of debt agreement (AoD) of almost R39 million with Motheo Technical Vocational Education and Training (TVET) College in the Free State. The SIU also signed AoDs worth nearly R11 million with parents and students who did not meet the NSFAS funding criteria.

Conclusion

The SIU investigation into NSFAS has highlighted serious maladministration and mismanagement of funds. The recoveries made by the SIU demonstrate its commitment to ensuring accountability and transparency in the management of public funds allocated for education.

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NSFAS News

South Africa Two New Universities | The Latest Update

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South Africa Two New Universities | The Latest Update

South Africa Two New Universities |The Latest Update. South Africa is poised to tackle its skill shortage head-on with the rapid development of two innovative universities, aiming not only to expand access to higher education but also to tailor programs to meet the demands of the local job market.

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Hammanskraal University | Targeting Crime Prevention

One of the newly proposed universities, Hammanskraal University, is set to play a pivotal role in combating the nation’s crime epidemic by specializing in Police and Crime Detection. Currently, the Department of Higher Education and Training (DHET) is conducting a thorough evaluation of existing expertise within the Hammanskraal police academy to identify areas for enhancement through new faculty appointments.

Additionally, partnerships with established universities offering advanced degrees in relevant fields are being explored to bolster the university’s academic prowess.

Ekurhuleni University of Science and Innovation| Fostering Scientific Advancement

In a bid to address the absence of a major university in Ekurhuleni, the region will soon be home to the Ekurhuleni University of Science and Innovation, dedicated to promoting Science and Innovation. As the planning enters its second phase, critical considerations such as infrastructure development, faculty recruitment, and curriculum design are at the forefront.

This includes meticulous planning for a state-of-the-art campus equipped with modern facilities and technology, as well as strategies to attract and retain top-tier faculty members.

Government Initiatives For Collaboration and Growth

Recognizing the significance of collaboration in nurturing strong academic institutions, the government has outlined several strategies to foster partnerships and streamline transitions for students. This includes collaborating with established universities to lay a solid academic foundation, bridging the gap between vocational training colleges and the new universities, and creating pathways for postgraduate studies.

The exploration of articulation pathways at the postgraduate level signifies a commitment to providing diverse opportunities for academic advancement and specialization.

Conclusion

The development of these two new universities underscores South Africa’s commitment to addressing skill shortages and driving innovation in key sectors. By prioritizing collaboration, strategic planning, and stakeholder engagement, the government aims to ensure the success and sustainability of these institutions for generations to come.

As the implementation phase gains momentum, the prospect of a brighter future for South African higher education looms ever closer.

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