johannesburg, January 22, 2019 – South Africa's new education policy aims to equip poor and working-class citizens with the skills needed for today's job market, but the country's latest economic situation suggests its implementation could have a negative impact on the national budget. It shows that there is a gender.
Announced in December 2017, the policy provides free access to higher education to 90% of academically eligible students to achieve the national goal of doubling postgraduate education and training (PSET) enrollment by 2030. This is what we offer.th The South African Economic Update: Higher Education Enrollments Need to Increase edition argues that this will put a strain on the budget and how to achieve this without compromising the quality of education and fiscal sustainability. We are considering whether it is possible.
“In South Africa, there is a general consensus on the need for a skills revolution, which will enable young people to participate in the skills-demanding economy and help the country move forward in a world that is constantly being reshaped by technological advances. It will make the economy more competitive.” Paul Numba Umu, World Bank South Africa Director; “Despite the long-term need to fundamentally improve the basic education system, we must not only improve the quality of education but also invest in human capital by enrolling more students in universities, TVET and community colleges. It is an important responsibility to do so.”
The report explores the impact of the new National Student Financial Aid Scheme (NSFAS), which plans to provide grants instead of loans to pay for education costs and all associated costs such as accommodation, transport and books. I am reviewing. The report found that nine out of 10 prospective students will be eligible for support, and higher education plans will put pressure on already stretched finances to expand enrollment in higher education institutions. It points out that this will limit South Africa's ability to improve the quality of education.
As South Africa strives to boost economic growth and tackle the most pressing development challenges of poverty, inequality and unemployment, the latest information shows that implementation of structural reforms will increase South Africa's growth by 1.3% in 2019 and 1.7% in 2020. is predicted to accelerate. The report says addressing the skills gaps that perpetuate inequality and increase policy uncertainty is key for the country to grow faster and sustainably. This requires not only enrolling more students in PSET, but also increasing graduation rates and increasing the relevance of the skills taught to labor market needs, the report said.
This study found that previous student financial aid schemes were insufficient to cover the financial risks and costs faced by many students pursuing PSET study, particularly Technical and Vocational Education and Training (TVET), and that they were insufficient to cover enrollment and academic costs. It turned out that it was hindering my grades. The report notes that under the new policy, demand for PSET and TVET could increase demand for university studies by 23% and demand for TVET by 88%.
“We found that over 90% of potential PSET students could benefit from the new National Student Financial Aid Scheme, a progressive system that reduces income inequality, but also This would place a large burden on the population, equivalent to about 1 percentage point of the population.A decline in GDP would mean fewer public resources to increase enrollment without compromising the quality of education. said Sebastien Dessus, World Bank South Africa Program Leader. “Nevertheless, this constraint should not preclude this objective if difficult but necessary trade-offs are made. ”
The report suggests that South Africa should rebalance budgetary resources and policy reforms towards interventions that improve the quality of education, while at the same time expanding PSET enrollment capacity to increase enrollments more rapidly and improve the quality of education. It suggests that equality could be reduced more quickly. It also proposes comprehensive improvements to South Africa's PSET system by strengthening the quality of education in TVET, community colleges, distance learning institutions and historically disadvantaged universities.
This report provides internationally tested policy options to sustainably increase PSET enrollment through:
- Diversifying the PSET sector from a largely government-funded, university-centric model
- Encourage private sector participation
- Strengthening quality assurance system
- improve resource mobilization,
- Ensuring fairness in student support
The report finds that implementing such options is financially possible by gradually targeting financial aid to the poorest students and extending income-based loans to wealthier students. Says. As the quality of TVET and community college education improves, the report concludes that high private rates of return to PSET make such proposals fair and sustainable for new populations entering universities, TVET and community colleges. He points out that it will be both rewarding and safe.