SA's new R520m bursary scheme to help 5,000 students through university

Universities South Africa (USAf - the representative body of all 26 South African public universities), in partnership with the Services Sector Education and Training Authority (Services Seta), has launched a new bursary scheme valued at R520m. The bursary aims to provide over 5,000 students with financial support for their tertiary education.
Image source: jcomp from
Image source: jcomp from Freepik

The scheme is open to South African citizens who are first-, second- or final-year students at a public South African university. The amount is capped at R100,000 per student, per year and will support students throughout their studies, provided they maintain satisfactory academic progress and meet their field-of-study requirements.

To date, 24 of the 26 public South African universities have already received R20m, allowing 200 student beneficiaries at each institution to focus on their studies without the stress of financial uncertainty. Those behind the initiative believe that early fund distribution is critical for administrative efficiencies, timely and proper verification and reducing reliance on emergency, last-minute funding.

Speaking at the project’s recently held inception workshop, Dr Phethiwe Matutu, CEO of USAf, said that external auditors would be appointed, and that auditing would be well underway before the end of the financial year, enabling universities to receive the next tranche of funding in time for returning students in 2027.

Sibusiso Dhladhla, acting CEO of Services Seta, referenced issues previously encountered by his organisation, currently under administration due to governance failures. “Our goal is to affirm this kind of programme so it can serve as a benchmark for other sectors to adopt. This is the legacy we would like to leave behind.”

Makhaya Blaai, acting executive manager: office of the CEO, Services Seta, explained the rationale behind the early release of funds to the universities. “We have changed our bursary model because we realised it didn’t help the beneficiaries we sought to help. We realised that we needed an immediate solution moving forward, hence this decision.”

He said the Services Seta had appointed USAf as a strategic partner to minimise problems associated with the awarding of bursaries.

“I can safely say it's a panacea for the problems faced by students in the past. We have taken a leap of faith with responsible people, whom we trust to meet deadlines and timeously supply all audit related matters for this academic year. By the time universities close at the end of the year, we want to have all results from this year’s cohort so that we can pay in advance for their studies in 2027.

"Students need to come back to class and not to an administrative nightmare. We have the chance to touch lives for the better."


 
For more, visit: https://www.bizcommunity.com