SIU tells MPs it has recovered R2bn on behalf of NSFAS
The SIU says this includes funds that were paid out to students irregularly across the country’s higher education institutions.
National Student Financial Aid Scheme employees assist prospective students. Picture: @Facebook.com/nsfas
CAPE TOWN - The Special Investigating Unit (SIU) says it has recovered R2 billion on behalf of the National Student Financial Aid Scheme (NSFAS).
The SIU said this includes funds that were paid out to students irregularly across the country’s higher education institutions.
But there are still billions outstanding, which directly impacts thousands of deserving students who can’t access financial support.
The SIU returned for another briefing to parliament, but this time, focusing on the post-school education and training sector.
READ: R1.7bn in unspent funds NSFAS recovered from higher education institutions since 2022 - SIU
The unit briefed Members of Parliament (MPs) on the different categories, like “double funded” students and students who received funding and other third-party funding.
But SIU forensic accountant, Lucas Letshela said they’ve managed to return some money that was paid out illegally to students from various institutions.
"At Wits, we have received R450 million, University of Free State we have received R438 million. So we are saying currently as we sit we are saying we’ve recovered R2 billion back to NSFAS."
Letshela said there is a need for a policy to be developed on how refunds will happen. He said there are almost 40,000 students in all nine provinces who have received funding incorrectly.
The SIU said students continue to defraud financial aid scheme using fake details about their parents.
Letshela said some students find ways to access funding irregularly.
"So in some instances, students took chances and will only submit one parent and say I don’t know my other parent. But through investigation, we are finding that this person has got both parents and therefore it blew up their financial criteria of less than R35,000 to qualify."
He said some students even use their friend's parents in their applications.
But Letshela said while they’ve recovered some money for NSAFAS, there's still R5 billion missing that was paid out to students who didn’t qualify for bursaries.
"Only an investigation will reveal whether we are going to be able to collect that R5 billion or not," Letshela said.