Student Funding Model Used By the National Student Financial Aid Scheme (Nsfas) at Universities in South Africa

Purpose: The purpose of this research is focused on evaluating NSFAS as student funding at South African Universities. Problem Investigated: Public universities in South Africa witnessed student protests on campuses during 2015 and 2016. These were orchestrated by students demanding additional funding assistance from the National Student Financial Aid Scheme (NSFAS), zero-fee increases and the scrapping of student debt by universities. In 2012 a report for fee-free university education for poor people was handed to the Minister of Higher Education and Training. It suggested that fee-free higher education would be possible if more funds were injected into the NSFAS. It is not currently known how much funding is required to fund both the poor students and the missing middle students who earn beyond the NSFAS eligibility threshold. Methodology: A quantitative research method was used. Information on student funding at a specific period, was collected using different universities to corroborate the data received in order to solve the research problem. The approach assisted in identifying how student funding is allocated per university in a specific academic year. Value of the research: The higher education sector is constantly evolving. The past struggle of universities was to ensure that they attracted the best academics and students. The focus has now changed to the student struggle on matters of academic exclusion, financial exclusion and the decolonizing of universities. The study of student funding in South African universities is made more urgent by student protests at universities, and the citing of lack of funding as the main reason why students have been excluded from the universities. The study focuses on the real impact on the universities and also how they have responded to the major challenges. Conclusion: Although this study focused mainly on student funding, it is critical that students who are funded from various sources are also supported in terms of psychological readiness, the transition from matric to university and acquiring financial management skills.