…Fund ups number of students to receive aid to 22 178
Namibia Student Financial Assistance Fund (NSFAF) has said that from the 30 124 applications from prospective beneficiaries received, 22 178 or 74% applicants are eligible for funding.
The Fund Acting Chief Executive Officer (CEO), Kennedy Kandume said that this is an increase of 30%, when compared to 17 096 eligible applicants during 2022 academic year.
This leaves 7 946 or 26% of applicants ineligible for funding during 2023 academic year.
“I must emphasis here that to assess funding eligibility, the Fund is reliant on information provided by applicants themselves, with exception of academic record that we verify directly with Ministry of Education, Art and Culture. Thus, it is important that applicants provide accurate information to enable timely assessment of loan applications,” Kandume said.
The Government of the Republic of Namibia through the Ministry of Higher Education, Technology and Innovation allocated N$1.68 billion to cater for continuing as well as 2023 new intakes.
“Our calculations, however, revealed that this allocation is not enough, which prompted an engagement with the Line Ministry and Ministry of Finance, and both Ministries committed to avail additional funds to enable funding of all eligible applicants,” Kandume further said.