SIU orders universities owing NSFAS to settle their debt

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The Special Investigating Unit (SIU) has told higher education institutions owing the National Student Financial Aid Scheme (NSFAS) to immediately pay back the money.

This comes as the University of Johannesburg (UJ) pays back NSFAS R311 million in unallocated funds for the period between 2016 to 2021.

The money was for students who qualified for funding but either changed institutions or deregistered.

The payment that UJ has made brings the total amount that NSFAS has received from institutions of higher learning to almost R350-million since the SIU instituted its investigation in September last year.

SIU Spokesperson, Kaizer Kganyago, says: “We are in the process of investigation and we do not understand why this money was left there because according to the investment, it was supposed to have been taken at the end of that financial year. If money is given, there needs to be reconciliation and what was not used should be sent back to NSFAS and that was not done. We already know of other institutions that have to pay back the money and we will announce that has been done. We are appealing to the other institution to say those who have come forward can they reconcile and bring back that money…”

Kganyago elaborates in the video below: