- NSFAS Board’s Focus on Stability and Governance: Under the leadership of Dr. Karen Stander, the NSFAS Board is committed to restoring stability, strengthening governance, and ensuring that students receive the necessary support.
- Implementation of Policies and Strategic Initiatives: The board approved all senior appointments, launched recruitment drives, introduced 12 new policies for transparency, and submitted key strategic plans to Parliament, including a five-year strategy.
- Turnaround Strategy and Key Priorities: NSFAS has introduced a turnaround strategy that includes organisational redesign, ICT upgrades, a loan recovery strategy, and a new business model to improve its operations.
The National Student Financial Aid Scheme (NSFAS) Board, chaired by Dr Karen Stander, has outlined its progress and future plans after just over six months in office. Addressing the media in Pretoria, Dr Stander said the board was focused on restoring stability, strengthening governance, and ensuring students receive the support they need.
The 13-member board, supported by interim CEO Waseem Carrim, approved all senior executive appointments, launched a recruitment drive for key posts, and introduced 12 new policies to enforce transparency and accountability. Town hall meetings were held with employees, and the annual performance plan and five-year strategy were submitted to Parliament on time.
A turnaround strategy was introduced, with priorities including organisational redesign, ICT upgrades, a loan recovery strategy, and a new business model. Challenges remain, however, including financial instability, cybersecurity risks, leadership turbulence, and a R10.6 billion funding shortfall that has left some students unable to register. To address this, NSFAS is working with the Department of Higher Education and Treasury while developing stricter eligibility rules for aid starting next academic year.
NSFAS is also reviewing student accommodation contracts after irregularities in a pilot project covering 112,011 students, with findings expected by September 2025. Direct payment contracts and the head office lease are being challenged in collaboration with the Special Investigating Unit. Meanwhile, loan recoveries are being strengthened, with five debt collection firms appointed to recover funds from pre-2018 beneficiaries.
Dr Stander said the board’s mission was clear: to create a sustainable NSFAS that provides fair access, supports students through their studies, and rebuilds public trust in one of South Africa’s most critical institutions.
