R840m raised to help needy students gain scarce skills | SundayIndy
Johannesburg - Top students studying towards a career in scarce skills required for South Africa’s economic development, but whp cannot afford to pay for their tuition and other educational needs, have received a lifeline through the Ikusasa Student Financial Aid Programme .
The ISFAP, headed by its chairman, former FirstRand CEO Sizwe Nxasana, and supported by 40 donors, public and private sector entities, has raised R840m to help deserving students who wish to pursue university studies in scarce-skills professions such as accountanting, engineering, actuarial science, as well as medicine and healthcare fields at 12 partner institutions in South Africa.
About 1800 students have been assisted to further their studies, among them 143 graduates who are part of the ISFAP programme have either graduated or are set to graduate this year and enter the job market. “When we launched ISFAP as a pilot programme at the height of the 2017 #FeesMustFall crisis, we could not have foreseen the huge role we would play in the national effort to solve the funding challenge of ‘missing middle’ students," said Nxasana, who at one point headed up the National Student Financial Aid Scheme.
ISFAP was established, through the recommendation of the Ministerial Task Team, to develop a sustainable funding model for the higher education costs of South Africa's missing-middle students, who are not abjectly poor enough to receive government funding, yet not rich enough to afford bank loans, and could therefore not pursue tertiary studies.
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