Universities to lose power to allocate student funds

Universities will soon lose their power to allocate funds to help plan national financial students to poor students as a body the government keeps a tight grip on the financial resources, reports BDLive.

Provision of the proposed new financing system in the University of the Witwatersrand last week, the national student financial aid, or NSFAS plan, President Sizwe Nxasana criticized the university for being part of the problem, which hinders students to obtain funding for higher education. He said he often did not universities as they wish when allocating funds NSFAS. In some cases, universities would give students the financial support is inadequate In contrast, the same students will end up as the leak with bad debt.

According to the current system of NSFAS, one student qualifies for a maximum of R72,000 per year. Nxasana gave the example of a university that was given R400 million, but decided to transmit it to large numbers of students. "As a result, he got every student for R20,000 for that year, and had to throw away about additional funding for books and accommodation. Many of them fell off and was left with heavy debt, and this is why we want to and said Nxasana control over every cent."