Only 19 per cent of successful NSFAF applicants to receive assistance

21 May 2019 10:20am
WINDHOEK, 21 MAY (NAMPA) - The Namibia Students Financial Assistance Fund (NSFAF) will only grant financial assistance to 19 per cent of its new eligible applicants during this academic year, due to a shortfall in its 2019/20 budget.
A media release issued on Monday said the fund received 24 739 applications for undergraduate financial assistance for the 2019 academic year, of which 15 087 applicants successfully met the minimum requirements and were eligible for funding.
The fund will however only award financial assistance to 2 925 successful new applicants during the academic year under review due to a shortfall of N.dollars 641 million in its budget for the financial year 2019/20, it said.
“Only 2 925 new applicants can be awarded at this stage due to a shortfall of N.dollars 641 million,” the statement said.
The fund will also honour payments for continuing students to the amount of N.dollars 1.076 billion.
NSFAF’s budget allocation for the current financial year decreased by over N.dollars 300 million from the 2018/19 financial year to N.dollars 1.138 billion.
The criteria that will be used to determine the successful 2 925 applicants will include the combined parental or own income, the academic performance of the applicant, priority fields of study and regional balance, the statement read.
It further said that the Ministry of Higher Education, Training and Innovation, under which NSFAF operates, is currently in consultation with Treasury in an effort to secure additional funds to enable NSFAF award funding to the remaining 81 per cent of successful new applicants.