Redress principles for public funding
| 23) |
Public funding of public FET Colleges must contribute towards the redress of past inequalities. This means that the funding system must deal with two things. Firstly, it must ensure that students or potential students from socio-economically disadvantaged households receive funding at a favourable level, both to deal with additional costs relating to, for example, additional tuition time needed, and to deal with inability to pay college fees. Secondly, funding should be linked, even if indirectly, to targets dealing with the representativity of college student populations in terms of gender, race and disability. |
| 24) |
The aim of government is to ensure that the FET College sector as a whole is representative of the country's population in terms of gender, race and disability. Moreover, it is the aim of government to bring about better representativity within different programmes, for example a greater presence of female students in Engineering, Finance and ICT programmes. At the provincial and college level, the aim should be to promote the national representativity targets through better recruitment of under-represented groups. |
Types of funding for public FET Colleges
| 25) |
The income of FET Colleges can be divided into the following seven streams: |
| a) |
Formula funding of programmes |
| b) |
Earmarked capital funding |
| c) |
Earmarked recurrent funding |
| f) |
Fee-for-service income |
| 26) |
Section D below deals with the formula funding of programmes stream. The remaining funding streams are dealt with in Section E. |
Financial Advisory and Intermediary Services Act, 2002
