Following the Cabinet’s decision to suspend 50 percent of loan repayment into the Loan Bursary Fund, the National Manpower Development Secretariat_NMDS, has come up with a new framework to ensure the fund is sustainable

The framework was discussed at the meeting between the Portfolio Committee on the Economic and Development Cluster and NMDS yesterday, where a strategy to recover loan bursary payment was the main issue

The Savingram was released in September 2024 with regards to suspension of the 50 percent loan repayment into the Loan Bursary Fund for studies in priority skills, determined by the Fund itself

The Principal Secretary in the Ministry of Finance and Development Planning Ms. Nthoateng Lebona said, the Ministry has decided to develop a framework to classify different categories of financial need saying families regarded financially in need, are those that live below poverty line with the income of M 4, 323 and below

She pointed out that, the said categories have been introduced to ensure that the Fund becomes operational and fulfils its objectives including revolving the fund.

NMDS’ Acting Director Mr. Thabo Ntoi revealed that, families with the income of 1. M13,000 to M15 000 should pay 30 percent,

2. M10,000 to M12,000 should pay 25 percent,

3 M7000 to M 9000 20 percent,

4 M4000 to M6000 15 percent

5 M2000 to M3000 10 percent and those with M2000 income will pay the loan through instalments

On this, Chairperson of the Economic and Development Cluster Mr. Sello Hakane expressed his surprise that, NMDS has not shared this framework with students and the public

21 JAN, 25