Lahja Nashuuta
The Namibia Students Financial Assistance Fund (NSFAF) will share N$2.5 billion among 23 785 students from various local and international universities during the 2024/2025 financial year.
Last year, 22 000 students received funding from the government-funded institution.
Acting CEO Kennedy Kandume said the loan application process for 2024 funding was open from November 2023 to 29 February 2024, giving each individual ample time to apply.
He said during the application period, the institution received 31 114 applications from prospective beneficiaries, of which 23 785 (representing 76%) were found to meet the funding requirements.
Another 7 329 (24%) applications have been rejected, most on the grounds that their parents or own income is above the set threshold, with a combined gross income of N$500 000 per annum.
Kandume emphasised that the application process is not complete until the beneficiaries sign the contract.
“Eligible applicants will have 60 days to sign their contract, counting from the day they received the confirmation letters. Failure to submit will result in them forfeiting the financial assistance. Students must ensure that the contracts are signed, and they must obtain bank cards,” he added.
The government decided to extend non-tuition support to qualifying and eligible students from all higher education institutions and vocational training centres. As from 2024, all continuing and newly-awarded students at these institutions will get N$10 000 non-tuition fees (upkeep).
Minister of Higher Education, Training and Innovation Itah Kandjii-Murangi urged equity so that all eligible students, “irrespective of where they are studying”, are treated the same.
She made these remarks yesterday at the official release of the 2024 awards’ list in Windhoek.
“Last year, I indicated that we need to take a significant stride towards a more accessible and inclusive educational landscape.
I want to emphasise inclusivity in terms of financial assistance to all eligible students… as well as the timely release of the funds,” she said.
Kandjii-Murangi revealed while reaffirming the government’s commitment to student funding that for this financial year, the government has allocated N$2.4 billion towards the fund, which marks an increase from N$1.6 billion allocated in the 2023 academic year.
The minister encouraged students to embrace the opportunity with determination and dedication.
“Education is a powerful force for positive change, and with the support of the NSFAF, you have the means to achieve your dreams,” she advised.
Kandume said 176 310 students have so far benefitted over the course of 10 years to the tune of N$17.5 billion.