An estimated R320 million intended for student support remains dormant in accounts linked to NSFAS’s discontinued Celbux voucher payment system, with the SIU revealing that some institutions are refusing to repay the funds because they are owed money by the financial aid scheme.
An estimated R320 million intended to support students has been lying dormant in accounts linked to the National Student Financial Aid Scheme (NSFAS) now-discontinued Celbux voucher payment system.
The Special Investigating Unit (SIU) says some higher education institutions are refusing to repay the money, arguing that the NSFAS owes them outstanding amounts for previous academic years.
The findings are contained in an SIU presentation to Parliament’s Standing Committee on Higher Education recently, where the investigative body provided an update on key investigations into dysfunction at the financial aid scheme.
The SIU told the committee that it had received 14 proclamations to investigate matters within the higher education portfolio between 2017 and 2025. Eight of these investigations have been finalised, while six remain under way.
