South Africa student receives $1m loan in error
The university says the
student will need to pay back all the money
A South African university is
investigating how a student was mistakenly given a 14m rand ($1m; £770,000)
loan.
The error became known after
an image of a receipt showing the student's account balance was widely shared.
A Walter Sisulu University
(WSU) spokesperson accused the student of spending some of the money on a
"lavish lifestyle", Times Live reports.
The student, who has not been
named, said she reported the mistake.
She has also been quoted as
saying that she has returned the money.
'Student liable'
But the university insists
that the student will be "liable for every cent", News24 quotes spokesperson Yonela Tukwayo
as saying.
South African students receive
loans, to cover textbooks, accommodation and food, through the National Student
Financial Aid Scheme (NSFAS), and the money is meant to be paid back after
graduation.
In theory, a student should
only be able to spend it using a special card at designated shops.
NSFAS has blamed WSU for the
error. In a statement issued on Twitter it said that it gives all the
money to be paid to students to the university, which then passes it on.
"When a mistake occurs in
these processes, it is in the hands of the university," NSFAS said.
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