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Minister of Higher Education and Training Nzimande has been critical of the amount of money waster by SETAs but also of the lack of contribution and partnership with FET colleges.
The FASSET SETA Board has approved in principle a scheme to be further detailed and approved with NSFAS, which will benefit learners within the financial services sector.
Reported by FASSET in their Facts Newsletter June 2012, the scheme still to be finalised will enable FASSET to pay off the NSFAS loans of FASSET learners. That will not only directly benefit the FASSET leaners but also free up further funds for NSFSAS to utilise for further loans.
Tertiary institutions will also benefit because there will no longer be a need for debt collection and following students to obtain payment of student loans.
The FASSET SETA does have a longstanding relationship with tertiary institutions having partnered on the Thusanani Work Readiness programme, the SAICA managed Thuthuka QE programmes and SciMathUS, and through FET colleges many learners have obtained their professional qualifications, such as those in accounting, bookkeeping, and debt collection.
Is this a model for other SETAs to follow?