Wits, UFS returned over R800 million of unspent NSFAS funds

JOHANNESBURG - Wits University and the University of Free State have returned over R800 million of unspent NSFAS (National Student Financial Aid Scheme) funds.

The Special Investigating Unit (SIU) said Wits University returned R450 million, while the University of Free State returned R438 million.

The SIU said it has recovered about R1.7 billion from Higher Education Institutions since it started investigating the issue of unspent National Student Financial Aid Scheme money in 2022.

READ: NSFAS announces R3bn funding for 'missing middle' students

SIU spokesperson Kaizer Kganyago said the investigation was prompted by the fact that NSFAS didn’t have processes in place to collect unspent funds it allocated to institutions.

“The funds paid by Wits and UFSs are unallocated amounts from the years 2016 to 2021. These funds were generated by various events such as students receiving multiple sources of funding and changes in the total cost of study for the academic year.”