Presenting his departmental budget speech on Thursday , Nzimande said the updated model is to be presented to president Cyril Ramaphosa’s cabinet by July.
“As part of the development of our comprehensive student funding model, through the ministerial task team on student funding, we are engaging both the public and private components of the financial sector to come up with a funding model to support students in the ‘missing middle’ income bracket and post-graduate students who cannot secure funding from the National Research Foundation.”
In February, Nzimande announced a CPI-linked increase in tuition fees for 2022, noting that the sector is heavily reliant on tuition and residence fee income for universities to remain operational. Unaudited data showed that an estimated R6.1 billion was owed by students at the start of the 2021 academic year.
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