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Nzimande Announces New Funding Model to Assist “Missing Middle” Students

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Nzimande Announces New Funding Model to Assist "Missing Middle" Students

In an effort to support and assist 47% of “missing middle” students who previously did not qualify for financial assistance, Dr Blade Nzimande Minister of Higher Education, Science and Technology has announced the first phase of a new Comprehensive Student Funding model. This new model aims to provide access to government loans for these students, enabling them to pursue their studies.

Dr. Nzimande revealed that the new loan scheme will be administered by the National Student Financial Aid Scheme (NSFAS), representing the government’s commitment to breaking inter-generational poverty.

Under the new funding model, students with a total family income of up to R350,000 or less will still be eligible for a government bursary through NSFAS. The funding will also encompass all categories of students, including those who were not previously supported by the NSFAS bursary and funding policy.

For the 2024 academic year, a budget of R3.8 billion has been set aside for students with a household income of more than R350,000. This new funding model is seen as a significant step in ensuring that all students have the opportunity to pursue higher education regardless of their financial circumstances.

For a full briefing on the new Comprehensive Student Funding model, you can watch the announcement here: https://www.youtube.com/live/U42cs9zSgZ4?si=VAfT5-mk8S-6t0nk

Nzimande Announces New Funding Model to Assist "Missing Middle" Students

Blade Nzimande Addresses the media on the new funding model

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