The Department of Trade, Industry and Competition DTIC recently gazetted draft amendments to the National Credit Act of 2005, which could have profound implications for students with debt in a move that has sparked intense debate and concern, Cape town Etc reports.
Among the controversial proposals is a regulation that would allow credit bureaus to obtain credit information from educational institutions, effectively adding universities and colleges to the existing sources like banks and court judgments.
The ramifications of this amendment, however, have prompted vehement criticism from various quarters. EFF Member of Parliament Sihle Lonzi has taken a vocal stand against the proposed changes, penning a strong letter to Tebogo Letsie, Chairperson of the Portfolio Committee on Higher Education.