NSFAS trying to recoup over R20billion in loans from Students in South Africa

 

The state agency says about 80 percent of the debtors work in the private sector.

Picture: Christa Eybers/EWN

JOHANNESBURG – The National Student Financial Aid Scheme (NSFAS) is trying to recover over R20 billion in loans to more than 500,000 South Africans.

The state agency says about 80 percent of the debtors work in the private sector while the rest are employed by government.

It’s working with South African Revenue Service and private debt collection companies to track them down.

NSFAS spokesperson Kagisho Mamabolo says, “The nominal value of the NSFAS loan book, as of March 2015, stands at R21.3 billion. I say March 2015, because those are the figures that we audited. We are still working on the ones that were audited for this financial year.”