In response to Higher Education Minister Blade Nzimande’s announcement of a R3.8 billion loan scheme for the ‘missing middle’ category of students, the National Student Financial Aid Scheme (NSFAS) has detailed the criteria for approving applications for study loans.
The loan scheme targets students falling within the ‘missing middle,’ whose household income ranges from R350,000 to R600,000. Eligible students must be enrolled in TVET colleges or universities. Both postgraduates and undergraduates will have an opportunity to benefit from this loan.
NSFAS spokesperson Ishmael Mnisi highlighted the key aspect of the scheme, stating, “70% of this loan scheme will be directed to students who are studying STEM subjects, which include Science, Technology, Engineering and Maths, as well as entrepreneurial programmes. The remaining 30% will be allocated to students pursuing humanities.”
The initiative by NSFAS aims to bridge the financial gap for students falling within the ‘missing middle’ category, providing support for their educational pursuits.
NSFAS to fund ‘missing middle’ students in 2024: Nzimande:
EXPLAINER: Who are the ‘missing middle’?
