great work by the minister,what no happen to those who are already owing huge amount from the intrests rates that accumulated from 1st day of loan agreement,i mean pre-April this year,is he saying we where disadvantaged by our previous ministers.
On Fri, May 27, 2011 at 7:14 AM, Dominic Tweedie <[email protected]>wrote: > > [image: The Times] > > > *Blade Nzimande to cut student debt* > > > *Sapa, The Times, Johannesburg, 26 May 2011* > > In an effort to reduce debt owed by students, the National Student > Financial Aid Scheme (NSFAS) will not charge interest on student loans until > 12 months after graduation, Higher Education Minister Blade Nzimande said on > Thursday. > > This applied to NSFAS loans registered from April 1 this year. > > Nzimande said NSFAS previously charged interest on student loans from the > moment the loan was taken. > > "This has resulted in students leaving university with unmanageable debts," > he told reporters in Parliament at a pre-budget vote briefing. > > He said NSFAS was meant for "poor" students or students from "poor" > households and that charging interest on these students' loans from the > start placed them in debt even before they began working. > > Nzimande said R2,7 billion was given to NSFAS in the previous financial > year to assist students. This was increased to R5,4bn in this financial > year. > > He said that although the figure had doubled, the number of students > receiving loans would not necessarily double, but would drastically > increase. > > Students who had completed their studies, but who not yet graduated or > received their certificates because of outstanding fees with their > institutions, would also be able to apply to NSFAS for a further loan to > settle payment. > > NSFAS would receive R200 million from the department to grant these loans. > > "This will enable more than 25,000 students to receive their certificates > and enter the job market." > > Nzimande said R50m had also been provided for post-graduate students who > required financial assistance to complete their degrees. > > He said 63,000 students at Further Education and Training Colleges would > also be able to access NSFAS loans. > > In addition, the department had asked NSFAS to remove all students it had > listed with credit bureaux. > > He said some students were prevented from renting flats or buying vehicles, > which they needed for work purposes, because they were blacklisted. > > The department was also "engaging" with universities to remove students, > especially NSFAS students, they had listed with credit bureaux. > > Nzimande said this did not mean that graduates who had jobs could escape > paying back their student loans. > > The department would approach the SA Revenue Service to assist in "tracing > and forcing" the students to pay, he said. > > "We want to get back every cent that should be paid. It is indeed > irresponsible not to pay. We are appealing too these people to pay." > > > *From: > http://www.timeslive.co.za/local/article1087474.ece/Blade-Nzimande-to-cut-student-debt > * > * * > * * > * * > * * > > -- > You are subscribed. This footer can help you. > Please POST your comments to [email protected] or reply to > this message. > You can visit the group WEB SITE at > http://groups.google.com/group/yclsa-eom-forum for different delivery > options, pages, files and membership. > To UNSUBSCRIBE, please email [email protected]. > You don't have to put anything in the "Subject:" field. You don't have to > put anything in the message part. All you have to do is to send an e-mail to > this address (repeat): [email protected] . > -- Mr Mmamadimo Ephraim "Thabo Mathiba Cell No:0849782879 Fax No:0865462214 Other Email:[email protected] -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] .
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