The Special Investigating Unit (SIU) has recovered R2 billion for the National Student Financial Aid Scheme (NSFAS), but a further R5 billion remains unaccounted for. The SIU briefed Parliament on the status of its investigation into the post-school education and training sector, revealing that nearly 40,000 students across all nine provinces have received funding incorrectly.
The Special Investigating Unit ( SIU ) has announced the recovery of R2 billion on behalf of the National Student Financial Aid Scheme ( NSFAS ). This includes funds mistakenly disbursed to students across various higher education institutions in the country. However, a significant amount of money, estimated at R5 billion, remains outstanding, directly impacting thousands of eligible students who are unable to access financial support.
The SIU recently presented a briefing to parliament, focusing specifically on the post-school education and training sector. During the briefing, the SIU provided details on different categories of misallocated funds, including students who received both NSFAS funding and additional third-party funding. SIU forensic accountant, Lucas Letshela, highlighted the recovery of substantial sums from institutions like Wits University (R450 million) and the University of Free State (R438 million), bringing the total recovered amount to R2 billion. Letshela emphasized the urgent need for a clear policy outlining the process for student refunds. According to the SIU, nearly 40,000 students across all nine provinces have received funding incorrectly. The SIU further revealed that students continue to exploit the system by submitting false information about their parents' income. Letshela explained that in some cases, students deliberately omit information about one parent, manipulating their financial criteria to qualify for funding below the R35,000 threshold. While the SIU has made progress in recovering funds for NSFAS, Letshela acknowledged the remaining challenge of the R5 billion unaccounted for, which was disbursed to ineligible students. He stated that further investigation is necessary to determine the possibility of recovering this substantial sum
National Student Financial Aid Scheme NSFAS Special Investigating Unit SIU Student Funding Financial Misconduct Education Corruption
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