Student donor funds are in safe hands, says aid scheme head
Student aid boss Sizwe Nxasana assures donors their money is safe after R14.1m allocation bungle at another funding provider
Donor funds will be safe under the Ikusasa Student Financial Aid Programme (ISFAP), Sizwe Nxasana, who chairs ISFAP and the National Financial Aid Scheme (NSFAS), assured corporate donors in Johannesburg. Nxasana said donor funds would be appropriately managed under Ikusasa as the system had an integrated monitoring tool that kept track of students’ academic progress and funding needs. He was speaking after it emerged last week that service provider IntelliMali had misallocated R14.1m into a student’s account. IntelliMali is a privately owned company in charge of disbursing NSFAS allowances to students at Walter Sisulu University on behalf of the institution. "Through data analytics we can pick up academic performance before the university gives a report. In real time we are able to tell when a student is battling or having a good time and partying," said Nxasana. ISFAP was introduced in 2016 as an alternative funding model for higher education. It has been piloted across seven univ...
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