BUSINESS NEWS - The ministerial task team into higher education says its newly formulated funding model will ensure that poor students are offered comprehensive financial, academic as well as psychological support.

The task team presented the Ikusasa Financial Aid Scheme blue print model at the Fees Commission of Inquiry in Centurion on Monday.

The funding model is aimed at supporting the poor and so called 'missing middle' students through a combination of grants.

The ministerial task team Chairperson Sizwe Nxasana says under the new proposed model, poor students will be fully subsidised.

“It is feasible to offer free education to the poor and partially subsidise education to the so called 'missing middle'.”

Nxasana says funding will come from various sources including government and the private sector.

“South Africa has many sources of funds that includes, for instance, the foundations, the NGO’s that are funding students. We need to do this in a more coordinated fashion.”