The National Student Financial Aid Scheme (NSFAS) has welcomed the recovery of more than R1.7 billion by the Special Investigating Unit (SIU), describing it as a significant boost to accountability and student support
The recovered funds represent the total amount recouped since the SIU began probing maladministration and financial irregularities within NSFAS. The scheme said the recovery strengthens good governance and reinforces its mission to support academically deserving students from poor and working-class backgrounds.
NSFAS said the funds will be redirected to assist thousands of students at public universities and Technical and Vocational Education and Training (TVET) colleges. With demand for financial aid continuing to exceed available resources, the scheme noted that every rand recovered enables it to extend opportunities to more students.
The NSFAS Board reaffirmed its commitment to restoring trust in the post-school education sector by implementing recommendations from oversight bodies, including the Auditor-General and the Public Protector. The SIU has also acknowledged improvements in NSFAS’s financial controls, reporting systems and governance reforms.
NSFAS has called on institutions and former beneficiaries with outstanding obligations to honour their repayments, stressing that repayments are vital to the sustainability of student funding and the future of higher education in South Africa.
