R50 billion failed state fund in South Africa under investigation

• The National Student Financial Aid Scheme (NSFAS) has indeed failed in its mandate, leaving students destitute and costing the financial aid scheme R5.1 billion.
• The investigation into NSFAS was launched in 2021 by the Public Protector's office, which cited findings by the Special Investigating Unit that over 40,000 students were not properly funded.
• The crisis has sparked calls for the shutdown of NSFAS, with Professor Linda Meyer suggesting that long-term measures include an audit improvement plan and investigations into irregular payments to address the funding backlog.