Department of Higher Education and Training
A Ministerial Committee of Inquiry to conduct an independent investigation into the business processes, systems and capacity of the National Student Financial Aid Scheme (NSFAS) has been appointed.
The higher education and training department announced the appointment in Government Gazette 43345.
The Committee of Inquiry was set up in terms of Regulation 20 of the Treasury Regulations of 2005.
The Committee is also tasked with making recommendations for a future model of administering student financial aid.
The Committee has to conduct an independent investigation into the root causes of the systems, process, policy and capacity challenges and make recommendations about the short and long-term changes necessary for an effective student financial aid system at NSFAS.
“The scope of the investigation is to determine the root causes of the problems experienced with the roll out of the “student-centred” model at NSFAS and the implementation of the new bursary scheme from 2018, and make recommendations for the future business processes, systems, policies and capacity necessary at NSFAS to administer student financial aid effectively.”
The terms of reference for the Committee of Inquiry are outlined.
The Committee has six months in which to complete its work.
Meanwhile, in a statement, national treasury has indicated that government notes S&P’s decision to affirm South Africa’s long term foreign and local currency debt ratings at ‘BB-’ and ‘BB’ respectively and maintain a stable outlook.
South Africa’s credit ratings by S&P remain non-investment grade.
Mention is made of the special adjustments budget scheduled for June that will set out a range of economic reform proposals and measures to stabilize public finances.