Northern Cape Premier Zamani Saul has announced during his State of the Province Address that a R150 million debt for former beneficiaries of the Premier’s Trust Fund will be written off in April.
The trust fund was initially a loan offered to Northern Cape learners who qualified to go to institutions of higher learning but could not afford to do so.
For years, former beneficiaries of the Northern Cape Premier’s Education Trust Fund have been paying off debt amounting to hundreds of thousands of rands.
Saul says this is about to change. “The R150 million debt owed by former beneficiaries will be written off. So, we are reinvesting that money to them, they don’t have to pay.”
Former beneficiaries say the announcement has taken a financial burden off their shoulders. “Ever since 2011, I’ve been paying this amount that I don’t even know whether it increases or decreases or if it stays the same,” says one of the beneficiaries.
Another beneficiary says, “I can’t believe I have been paying this off since 2013 where an amount of R400 has been deducted every month.”
Meanwhile, the premier has announced that the Education Trust Fund will be dissolved. Its functions will now be conducted from the Office of the Premier.
Northern Cape Premier Zamani Saul delivers the State of the Province Address:
