Higher Education Act, 1997 (Act No. 101 of 1997)NoticesFunding of Public Higher Education (November 2003)4. Earmarked Grants |
| (4.1) | Earmarked grants are funds allocated to institutions for specific or designated purposes. These will be used for the following broad purposes: |
| • | The National Student Financial Aid Scheme. |
| • | Teaching (including foundation programmes), research and community development. |
| • | Interest and redemption payments on loans approved and guaranteed before 1991. |
| • | Institutional restructuring, including mergers and the re-capitalisation of institutions. |
| • | The higher education quality assurance framework. |
| (4.2) | The Minister of Education will on an annual basis in the context of the MTEF three-year rolling projections determine the following in respect of earmarked grants: |
| • | The division of earmarked grant allocation between the different categories. |
| • | The allocation earmarked grants to individual institutions. |