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Fasset, Sector Education and Training Authority (Seta) for Finance, Accounting, Management Consulting and other Financial Services, launched an innovative Loan Repayment Grant for NSFAS (the National Student Financial Aid Scheme).

Fasset CEO, Cheryl James, said: "“Learners often struggle to make ends meet. In addition to paying tuition fees to either complete or further their studies, they have to pay back their NSFAS loans. This leaves them with very little to live on. Cash-strapped learners often change jobs, or their learnership, even abandoning the learnership route completely, preferring to chase a higher salary in the short-term, in order to be able to pay back their NSFAS loans."

As James explains: "By relieving them of the financial burden associated with their NSFAS loan through Fasset repayment towards their study debt, learners should be able to focus on qualifying in the learnership of their choice, within the shortest possible time.”

This NSFAS loan grant is a Seta first and is expected to improve retention rates on learnerships within the Fasset sector. This is expected to increase the pool of SA accounting talent, and strengthen Fasset’s efforts to fast-track transformation within the financial services sector.

Fasset’s NSFAS Loan Repayment Grant will be made available to South African citizens with a valid SA identity document; who have a three-year qualification; and who are in full-time employment and on a learnership programme with an employer whose levy number falls into the Fasset Seta.

Funding will be available on a first come, first serve basis. Applications for Fasset’s NSFAS Loan Repayment Grant close on 15 February 2013. Application forms can be downloaded from the Fasset website.

To learn more about Fasset's Grants, click here.

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