National Skills Fund says R3bn to be allocated for 'missing middle' students
The National Skills Fund (NSF) said R1 billion has already been paid to NSFAS to fund 'missing middle' students.
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CAPE TOWN - The National Skills Fund (NSF) says R1 billion has been paid to NSFAS to fund 'missing middle' students.
The NSF said it's tasked with facilitating the loan scheme, targetting young people whose parents earn more than R350,000 a year, but less than R600,000.
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The public entity's spokesperson Camagwini Mavovana said this cohort of students would receive R3 billion rand worth of funding from the Higher Education Department.
She added that higher education was expected to source funds to pay the outstanding R2 billion.
"The NSF receives its skills levy allocation through the Department of Higher and Education and Training which serves as the source of this funding. The funding model for this initiative was approved by the cabinet under Section 291b of the Constitution."
Bomvana said there were conditions to the loan.
"In order to continue receiving the loan, university students will need to have a 60% pass rate in their course modules in an academic term," said Mavovana.
Last week, Higher Education Minister Nobuhle Nkabane announced in Parliament that "missing middle" students would also qualify for NSFAS funding.