The National Student Financial Aid Scheme (NSFAS) has revealed that it owes South African universities and TVET colleges more than R11.6 billion, covering academic years between 2017 and 2023. This information was disclosed in response to a Parliamentary question directed to the Minister of Higher Education, with data compiled by NSFAS CEO Wassim Carrim.
Breakdown of NSFAS Debt to Institutions
According to the latest figures:
- Universities are owed R10.232 billion
- TVET Colleges are owed just over R1.3 billion
These outstanding payments cover tuition, registration fees, and student allowances, and have built up due to delays in reconciliation processes between NSFAS and various institutions.
Carrim noted: “The amounts are subject to final reconciliation and agreements signed off by both NSFAS and the institutions involved.”
Why the Reconciliation Process Matters
The reconciliation process ensures that the assets and liabilities between NSFAS and each institution are balanced and verified. Only once both parties agree on the financial records will settlements be processed.
Additionally, these figures are under further investigation by the Auditor-General of South Africa (AGSA). The aim is to confirm accuracy and identify discrepancies or possible irregularities in historical data.
Institutions Still Owed Millions by NSFAS
Some institutions still awaiting payment from NSFAS include:
- Nelson Mandela University
- Durban University of Technology
- Walter Sisulu University
- Thekwini TVET College
Collectively, these institutions are owed over R150 million. NSFAS has confirmed that it is working with the Special Investigation Unit (SIU) to finalise these payments.
In one confirmed case, Boland College has already received nearly R9 million, covering outstanding payments from 2017 to 2021.
Institutions That Owe NSFAS
Interestingly, the report also revealed that NSFAS is owed over R713 million by several institutions, including:
- University of Johannesburg
- University of Zululand
- Tshwane University of Technology
- University of the Free State
- Vaal University of Technology
These debts are likely related to overpayments, unclaimed funds, or students who deregistered but remained on NSFAS-funded rolls.
What About 2024?
Amounts owed for the 2024 academic year are still being compiled, according to NSFAS. Given the historic challenges in data management and reconciliation, students and institutions alike will be watching closely to see if the scheme delivers on time.
Final Thoughts
With over R11.6 billion in outstanding payments, the pressure is on NSFAS to finalise reconciliations, resolve long-standing debts, and streamline funding for future academic years. Institutions continue to operate under financial strain, and students rely on these funds for their survival.
As NSFAS engages with the Auditor-General and the SIU, all eyes remain on how quickly — and transparently — it can close the books on its financial obligations.