NSFAS beefs up search for beneficiaries who have not paid back loans
NSFAS spokesperson Kagisho Mamabolo says SARS is helping the fund with nonfinancial information about its debtors who are in formal employment
The National Student Financial Aid Scheme (NSFAS) is embarking on a debt-collecting campaign. On Tuesday, spokesperson Kagisho Mamabolo said the scheme was celebrating having "surpassed the 3-million mark" in the number of students it had funded since its inception 25 years ago. But‚ "most of the beneficiaries do not repay their loans when they find formal employment and earn more than R30,000 per annum", Mamabolo said. "NSFAS is now campaigning to find these beneficiaries to collect money owed to it‚" he said. "The scheme is currently benefiting from the assistance of the South African Revenue Service‚ which is allowed to furnish NSFAS with nonfinancial information of its debtors who are in formal employment." Mamabolo said the PayItForward campaign would ask all working beneficiaries to service their loans, and help younger students who needed NSFAS funding to enrol for higher education. Mamabolo said that "NSFAS does not collect debt for itself‚ but to commit the funds back to hi...
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