STUDENTS attend university to obtain qualifications so they can earn a greater lifetime income than had they not attended. Generally, the net economic benefits to graduates are relatively high. University attendance is clearly an investment. Such an investment is thus appropriately financed by student loans which can be repaid out of the extra income earned by graduates.All people eligible to attend university should have access to loans that will meet all of the costs. Apart from fees, these include living expenses, transport, clothing, books and so on.Many students can’t afford to pay fees and other costs up-front because, under current arrangements, many cannot borrow the full costs of their courses.Given the risks associated with educational loans, the state will need to be a major player through funding a reformed National Student Financial Aid Scheme. It is also essential that the South African Revenue Service manages the student loan repayment system. A properly enforced repa...
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