South Africa\u2019s universities are owed a collective R4.1 billion in debt, according to an article published in the Sunday Times.<\/p>\n
The paper noted that out of 26 tertiary institutions, 15 are owed millions, with Tshwane university of Technology, which has 50,000 students, owed R866.1 million.<\/p>\n
On Friday, president Jacob Zuma announced a zero percent fees increase for 2016, translating into as much as a R3 billion shortfall for universities across the country.<\/p>\n
The national student financial aid scheme allocates R9.5 billion to 420,000 students, while R6 billion is owed by former students. 11 out of the 26 universities fund additional students at a cost of R765 million, according the Times.<\/p>\n
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