By Lebone Rodah Mosima
The Banking Sector Education and Training Authority (BANKSETA) has provided R13.9 million to clear historical debt owed by 253 Central University of Technology (CUT) graduates, allowing them to access qualifications previously withheld because of outstanding fees.
CUT said in a statement that student debt remained a significant challenge across the post-school education sector, with outstanding balances often preventing graduates from accessing academic records and certificates.
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“This, in turn, limits their ability to pursue employment opportunities and establish financial stability,” the university said.
“Consequently, outstanding debt can create a cycle in which graduates are denied access to the very opportunities that could enable them to secure employment, improve their financial circumstances, and ultimately settle their outstanding obligations.”
The funding covered graduates in Information Technology, Accounting, Internal Auditing and the Advanced Diploma in Applied Management.
Acting Vice-Chancellor and Principal Prof Samson Mashele said the intervention represented an investment not only in the affected graduates, but also in their families and their future contribution to the economy.
“Behind every outstanding balance is a student who has worked hard to complete their studies.
“There is a family that has made sacrifices. There is a young professional ready to enter the world of work,” Mashele said.
“The funding will provide our graduates with an opportunity to move forward, enter the workforce and begin contributing to their families, communities and the broader economy,” he said.
BANKSETA Senior Manager for Human Resources Dr Lefaso Motsoeneng said historical debt funding was intended to remove financial barriers preventing deserving students and graduates from completing their academic journeys.
“Through strategic partnerships, we can tackle these challenges, expand access and help shape a more inclusive future.”
He said BANKSETA remained committed to supporting young people facing financial barriers and helping them transition into professional employment.
CUT said partnerships such as the BANKSETA intervention formed part of its efforts to remove financial obstacles that prevented graduates from using their qualifications to pursue employment and build sustainable careers.
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One beneficiary, Skejana Philasande, completed a National Diploma in IT Software Development in 2017 but said outstanding debt had prevented her from accessing her qualification.
Philasande said she had spent years being employed on the strength of her Grade 12 certificate rather than her university qualification.
“It was painful knowing that my qualification was being withheld because of my outstanding debt. The BANKSETA funding has given me renewed hope and the opportunity to pursue a career aligned with my studies,” Philasande said.
“What may seem like financial support is, for me, a chance to build the future I have always worked towards. I am deeply grateful.”
Refiloe Maduna, who completed a National Diploma in IT Software Development in 2026, said being defunded by the National Student Financial Aid Scheme had left her unsure how she would settle her outstanding fees.
She said she discovered that BANKSETA had paid the amount while checking her university ITS account.
“The relief and gratitude I felt in that moment are difficult to put into words. BANKSETA paid an amount that I simply did not know how I was going to afford on my own,” Maduna said.
“I am sincerely grateful to BANKSETA and CUT for this life-changing opportunity. I hope this support continues to open doors for many other students like me and graduates who find themselves in need of a helping hand.”
