Finance minister Pravin Gordhan has told the fees commission that government will continue to find money to fund higher education.
Gordhan says government needs to follow an incremental approach to fund higher education.
Charted accountant and social activist Khaya Sithole explains that students at Wits University have formulated a self-sustaining education model to distribute money to fund education system.
The model is called the Lesedi Education Endowment Fund and he has described how it could work.
Sithole says graduates, society and corporate are the biggest beneficiaries of attained tertiary education.
If we focus on those three particular aspects, we can find a way to fund the system.— Khaya Sithole, Charted Accountant & Senior Lecturer at Wits University
Sithole explains the three facets of the funding model:
1. increase government's university subsidy from the current 38% to 50% over a 12 year period.
2. reallocate 40% of the employers skills levy to universities instead of the Sector Training and Education Authority (Seta) system.
3. An introduction of an education levy for all university graduates, not just poor ones.
Take a listen to him map out the funding model: