Phambili

For many students, the burden of debt is an everyday reality. This remains true while they are studying and even after they enter the world of work. In December last year, the National Student Financial Aid Scheme (NSFAS) made a decision to limit the amount of money they give to students for housing, and they also stopped funding some students who used to receive help. This decision has further exacerbated the financial strain on students and institutions alike. Candice Egan, Manager: Student Access Fundraising within the Development and Alumni Relations Division, believes that now, more than ever, students need financial support. She writes:

Since 17 December 2017, following the announcement of fee-free education by the then President Jacob Zuma, and in response to the #Feesmustfall movement, NSFAS has been providing largely full-cost bursary funding to students from households with an income lower than R350 000. This fee-free decision flew in the face of the recommendations laid out in the Heher report, which suggested more sustainable models of providing large-scale financial assistance to students in need in the higher education space.

Now, five years on, this system is buckling under the pressure. NSFAS has been forced to make significant amendments to their funding levels at the beginning of 2023. These amendments were unplanned for by the sector at large and have resulted in huge challenges for students concerning their day-to-day living expenses.

Whereas in the past, the full cost of university residence was covered and up to R57 500 private rental costs, the maximum cap on all types of accommodation is R45 000 per annum leaving R15 750 for living expenses for the 10 months of the academic year. The net result is that students now have both an accommodation and a meal shortfall of approximately R25 000 each – and this after SU had to renegotiate and source alternative accommodation for students who had signed leases at the end of 2022 for 2023 to the (then) NSFAS approved limit and could now not afford the agreed rental.

Adding to the complexity, NSFAS has regrettably withdrawn funding from a number of students, for various reasons. These students had previously been approved by NSFAS and are now without any financial support for their studies.

Among the more than 4 200 students at SU benefiting from NSFAS support, as many as 550 are students in their final year of study, meaning that they will be entering the world of work on the back foot, carrying with them unplanned debt. But the same is true for the rest, who will only accumulate year-on-year debt as it is unlikely that the NSFAS situation will improve going forward.

The need for bursary support is now greater than ever. Although SU remains committed to access, inclusivity and assisting students in every way possible, we cannot tackle this challenge alone. Are you open to exploring a partnership that could make a substantial impact? Your support would enhance our collective ability to empower students in need.

Let’s talk! Contact me at eganc@sun.ac.za