Received NSFAS Student Loan/bursary? Help

[SaoirseB]

My advice, use the money, in an ideal situation you would not have to use it if you don't need to and it was supposed to go back into the fund to help someone else, knowing how chaotic NSFAS admin systems are, not using that money and hoping it goes back into the fund is risky, the student should use it otherwise it will be part of someone else's R14m windfall.

My advice is the complete opposite. If he/she can do without the money they shouldn't spend it frivolously. That money could help someone else in need.

True, it was not a serious comment, I also spent a fair bit of my early employment years paying back the money, it felt good knowing that it was going to help someone else, But some people I know flatly refused to pay the money back, there was no will from NSFAS to recover the money, when Nxasana was still there he talked about serious money that was still owed to SARS, I just don't understand why this is not being corrected.

I've also had this argument with two people I know who also refuse to pay the money back. They don't seem to understand that the money does not grow on trees. If those who come before do not pay back, what happens to those who follow.

Speak for yourself m8. I had zero problem with paying back the money I borrowed, as it was the agreement I signed.

Same here. I started paying back even as a trainee. The system is not sustainable if no one is putting something back.

 

[SaoirseB]

Yep, all that Zuma implemented was an increase in the amount allowed to qualify, which was previously quite low as I don't think it was adjusted for inflation for quite a while, and the unis themselves struck old debt for households below a certain income.

The problem with NSFAS is that they can't take it directly out of your earnings and that a very large majority of people who fail in their degree never pay back the money (you're charged the full years fees even if you drop out halfway through the second term, which I agree with as they already spent the money and gave you a spot for the year).

NSFAS is also terrible at forcing income collection, including that you have to report that you are earning that income (as far as I am aware, might have changed within the last ~3 years) rather than directly charging you. Tbh, NSFAS should be tied in with SARS.

And note this:
View attachment 555989
which means NSFAS will go broke within the next 2/3 years or be completely tax payer base funded rather than just partially. http://www.nsfas.org.za/content/repayments.html
Only applies to below certain income as far as I am aware, so not sure why they have that on the site.

This. They should link their system with SARS and deduct from people's salaries even if it takes 20 years to get all the money back.

 

[Drifter]

Pay back the money.

 

[Spliffcat]

Never ever going to happen .
Theft and corruption are warmly welcomed by the ANC.