The South African Union of Students claims the financial aid scheme is close to collapse after its failure to pay stipends to over 70 000 students since May

The funds annual budget is just under R50 billion

Thousands of students are anxiously awaiting for the National Student Financial Aid Scheme to respond to their funding applications as registration at institutions draws to a close

The new leaders of the student funding scheme inherit years of instability and poor financial records

The National Student Financial Aid Scheme has been under administration for two years after its board was dissolved and its boss resigned not even halfway through his term