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Wednesday, 15 August 2012

CPUT doubles financial aid to students

CPUT and the National Student Financial Aid Scheme (NSFAS) has more than doubled financial support to financially needy students over the last four years.

In a bid to help poor students access higher education the institution made 9 044 financial aid awards to the tune of R105 683 258 in 2008 compared to 2011’s awards valued at R228 687 030.

Awards to students with disabilities also increased from R591 491 in 2009 to R2 748 000 last year.

Graham Renecke from the Financial Aid Office says these figures prove we are doing something right.

Last year 526 students who could not continue to the next year because of an outstanding debt were granted a reprieve by the institution and allowed to enroll for the following year.

Despite the huge demand for funding Renecke says that of this year’s R53 million NSFAS allocation the university is left with a whopping R32 million.

 “The reason for this slow uptake is that students don’t submit their loan agreement forms,” he said. 

He urged students to sign the documents and submit them to the university as early as possible in order for the financial aid office to claim the money from NSFAS.

The university awards financial aid to students who are academically competent but financially needy based on the NSFAS criteria, the National Credit Act as well as the university’s policy.

NSFAS financial aid consists of bursaries and study loans, a portion of which is paid back on completion of your studies and the start of work.

For more information about NSFAS funding call 021 460 3918 or 021 959 6371.

By Kwanele Butana

Written by CPUT News