Details have emerged of the new student funding scheme intended to end the strife that has rocked campuses across the country. Now the race is on to be one of 2‚000 students in the pilot for the new “missing middle” tertiary education funding scheme. February 24 is the deadline for applications to the Ikusasa Student Financial Aid Programme devised by Higher Education Minister Blade Nzimande’s funding task team. In the model proposed by the team — led by former FirstRand boss Sizwe Nxasana — Ikusasa will raise money from the government‚ private sector‚ non-profit organisations‚ the skills levy‚ financial institutions‚ donors‚ retirement funds and social impact bonds. It will be used to fund students from households with annual income between R122‚000 and R600‚000 — the so-called “missing middle”. The funding will be available for the duration of the guinea pigs’ studies. Six institutions will be part of this year’s pilot‚ and students in the pilot must be studying in one of eight ar...
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