From the South African Government News Agency:
The Heher commission has recommended that all tertiary students in South Africa be given access to State guaranteed bank loans, which they would only pay back once they start earning a certain income.
The Commission of Inquiry into the feasibility of making higher education and training fee-free in South Africa has recommended that all students studying at both public and private universities and colleges -- regardless of their family background -- be funded through a cost-sharing model of government guaranteed Income Contingency Loans (ICL) sourced from commercial banks.
The commission, headed by Justice Jonathan Arthur Heher, has recommended that through this cost-sharing model, commercial banks issue government guaranteed loans to the students that are payable by the student upon graduation and attainment of a specific income threshold.
“Should the student fail to reach the required income threshold, government bares the secondary liability,” the report reads.
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