Over 7 000 to receive qualifications through NSFAF’s N$118m debt relief initiative

Elizabeth KheibesWINDHOEK

More than 7 000 Namibian graduates who completed their studies in April 2024 or earlier but were unable to obtain their qualifications due to outstanding tuition fees will benefit from a N$118 million debt settlement initiative by the Namibia Students Financial Assistance Fund (NSFAF).The newly introduced Graduate Debt Settlement Programme, recently announced via a national newspaper advertisement and confirmed by NSFAF spokesperson Percy Tjitendero, is a once-off intervention made possible through a special allocation from the national treasury.

“Close to 7 020 students’ names were submitted by institutions of higher learning, amounting to N$118 million,” Tjitendero told Namibian Sun yesterday.

The initiative is aimed at graduates whose studies concluded on or before April 2024, but who could not receive their qualifications because of unpaid tuition fees. The list of eligible students was compiled by institutions of higher learning (IHLs) and verified in coordination with NSFAF and the ministry of finance.

“It’s for graduates from April 2024 and backwards. These lists were obtained from the respective institutions,” Tjitendero said.

To confirm eligibility, applicants must submit their academic records and financial statements.

NSFAF clarified that the support will be provided in the form of a loan, not a grant. Beneficiaries will be required to repay the funds at a reduced interest rate.

“It’s a loan at the prime rate minus 2.5%,” Tjitendero explained.

This means that while graduates will still need to repay the assistance, the terms are more favourable than standard loan conditions.

Funds Paid Directly to Institutions

Disbursements will be made directly to the institutions owed the fees. Each graduate’s specific debt is listed in a finalised settlement list, and payments will be made accordingly. Graduates can confirm whether they are included by contacting their respective institutions or visiting NSFAF’s official website.

This is a once-off programme and does not currently include provisions for future similar interventions. “For now, this is a once-off opportunity that was presented to all those who graduated in 2024 and before,” Tjitendero confirmed.

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