Funding Challenges for a South African University A Case Study

The higher education environment both internationally and nationally is on a major transformation trajectory to cope with the need to broaden access, manage knowledge strategically and operate in more cost-effective ways to deal with the reduced resources available for the sector. South African higher education is embarking on a major restructuring exercise aimed at shifting the system from an apartheid-defined landscape to one that is equitable, responsive and improves accessible. The National Department of Education in South Africa recognises in new plans that funding of higher education is a strategic lever to overcome the inequities of the past. In this chapter, current policy formulations like the new funding formula, the student loan scheme (NSFAS) and financial data of the institution will be examined with a view to extrapolating the intended and unintended consequences of these for the University of the North.