Government will now start considering investments and rental income when processing applications for the National Student Financial Aid Scheme.
Johannesburg - From now onwards, the government will start considering investments and rental income when processing applications for assistance from the National Student Financial Aid Scheme .
According to Nzimande, the NSFAS will now be able to include other income streams such as investments and rental in its applications assessment, which he added will greatly assist in finalising outstanding appeals. Nzimande believes the NSFAS is hampered by inadequate information technology architecture and system and business processes that are not fit-for-purpose, which were designed without adequate consultation with and consideration of institutional systems.
As a result, Nzimande’s predecessor Dr Naledi Pandor appointed former Sars executive Dr Randall Carolissen as NSFAS administrator in 2018. The reasons cited for racking up the irregular expenditure include overpaying for contracts, excess payments made to institutions, funding students for course the NSFAS does not fund and assisting students with unsigned loan or bursary agreements.
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