Million Dollar Student
Being broke is par for the course for most students. Not so for the student attending Walter Sisulu University (WSU) in South Africa after she was mistakenly given a 14m rand (US$1m) loan. At least that is until the mistake was realised. The student is understood to have returned the money and it is just as well she did, as WSU has said she will be “liable for every cent” according to spokesperson Yonela Tukwayo. In South Africa, students are eligible to receive loans through the National Student Financial Aid Scheme (NSFAS) to help fund accommodation, living expenses and textbooks. The money can only be spent using a special card at designated shops and is meant to be paid back after the student graduates. It is not known how the error occurred but as the NSFAS hands over the money to the university to pay out the loans to students, it believes the WSU is at fault, “When a mistake occurs in these processes, it is in the hands of the university,” NSFAS said. Perhaps a course in bookkeeping might be on the cards for staff at WSU.