National Treasury says it has been exploring “different mechanisms of finding the money” required to subsidise the fees of those students from poor backgrounds and the “missing middle” students, as per Higher Education Minister Blade Nzimande’s Monday announcement.
It added in a statement yesterday that it had been inundated with enquiries on how the shortfall would be funded.
“In the main, the department is embarking on a prioritising drive and working with various departments and agencies to address the shortfall. In the present constrained fiscal environment, this is an extremely challenging situation.
It is important, therefore, that those who can afford to pay do so to enable the state to support the ever-increasing numbers of those who deserve support,” Treasury noted.
It further supported the call encouraging all National Student Financial Aid Scheme beneficiaries who were employed to start repaying their loans.
“This is part of each citizen’s responsibility to play a part in helping other students who are in need of financial aid.”
National Treasury would, meanwhile, continue to work with the department of higher education and training on the fees matter and announce the results of the process during the medium-term budget statement on October 26.