The NSFAS has been embroiled in a series of controversies in recent months.
Nzimande has raised concerns about the failure to effectively confirm funding for students and disburse funding timeously to students in technical vocational education and training (TVET) colleges and universities.
He said the board was engaged on several occasions on solutions, including a turnaround strategy which has not been achieved within agreed timelines.
Despite engagements with the entity, it hadn't dealt with challenges affecting its business processes, IT systems, capacity and policies and controls.
One of the administrator's tasks will be to ensure finalisation of funding guidelines of loans for the “missing middle”.
Administrator to take over governance, management and administration of NSFAS for two years
Higher education minister Blade Nzimande dissolved the scheme's board after chairperson Ernest Khosa resigned
An administrator will take over the governance, management and administration of the National Student Financial Aid Scheme (NSFAS) for two years.
The administrator will manage its day to day affairs and ensure it addresses its operational challenges, higher education minister Blade Nzimande said in a government gazette on Friday.
“This will include strengthening structures, systems and policies that will ensure good governance and effective management of the operational mandate of NSFAS and oversee forensic and other investigations necessary for the effective operation and management of the entity.”
On Thursday Nzimande dissolved the scheme's board with immediate effect.
The NSFAS has been embroiled in a series of controversies in recent months.
Nzimande has raised concerns about the failure to effectively confirm funding for students and disburse funding timeously to students in technical vocational education and training (TVET) colleges and universities.
He said the board was engaged on several occasions on solutions, including a turnaround strategy which has not been achieved within agreed timelines.
Despite engagements with the entity, it hadn't dealt with challenges affecting its business processes, IT systems, capacity and policies and controls.
One of the administrator's tasks will be to ensure finalisation of funding guidelines of loans for the “missing middle”.
Others include:
The administrator will be expected to report to Nzimande or delegated officials and must submit a written report every three months on progress.
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