Dr. Tsietsi Raleting Acting Chief Executive Officer. Image: Supplied

For 139 UWC students, an unpaid fee account stood between them and their future. BANKSETA paid it and is now investing a further R5.28 million in bursaries.

For many South African students, passing is not the last hurdle. A student can complete every module and still be unable to collect a certificate, graduate or register for the next year, because of fees still owing.

Without that certificate, applying for a job is far harder.

The Banking Sector Education and Training Authority (BANKSETA) set out to remove that barrier. Its board approved R175 million for a national Debt Settlement Project, inviting public universities to apply for funds to clear student debt.

Image: Supplied

"BANKSETA wanted to support students facing circumstances beyond their control, and restore dignity and hope to move forward with confidence," says Nobuzwe Mangcu, BANKSETA's Regional Manager for the Eastern Cape and Western Cape. The aim was to prevent students from being excluded and to ensure graduates received their certificates so they could apply for jobs.

The project focused on critical and scarce skills that matter to banking and alternative banking. At UWC, that meant students in fields such as accounting, finance, management, computer science, mathematics and statistical science, and development economics. Each student could receive up to R120 000.

UWC secured almost R6.9 million to settle tuition debt for 139 students. Of these, 129 had completed their qualifications in 2025 but still owed fees. The other 10 are still studying and had debt from earlier years that threatened to stop them from continuing. A further R344 856 covered the University's administration of the project.

BANKSETA's support doesn't end there. In 2026, it is also funding bursaries at UWC worth R5.28 million, covering tuition, accommodation, meals and books.

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