The "missing middle" funding gap — and how to bridge it

If your family earns too much to qualify for full government funding but not enough to comfortably pay university or college fees, you are not alone — and you are not doing anything wrong. You are in what South Africa calls the “missing middle”, and it is one of the hardest places to be when results day arrives and the fees are due.

A gap the numbers confirm

Government has acknowledged the problem and introduced a loan scheme aimed squarely at middle-income households — broadly those earning between about R350,000 and R600,000 a year. Yet uptake for the 2026 academic year was strikingly low: only around 26,500 students applied, and reporting pointed to a deep, understandable wariness of taking on debt. NSFAS has since signalled it will review the qualifying criteria, including whether that income threshold is set too tight.

In other words, the support exists on paper, but for many families it has not yet translated into a place to study.

Why the squeeze is real

The maths is unforgiving. With 2026 tuition increases capped at roughly 4.15% and accommodation at about 5.7%, the cost of a year of study keeps climbing — while the household that earns “just enough” to be excluded from grants still has to find that money up front. The fear of debt is rational. But so is the cost of a year not studied: a delayed career, lost momentum, and an opportunity that may not come around again.

Where Manati fits

Manati was built for exactly this gap. We provide alternative, individually-assessed study loans for capable students who can’t secure traditional funding. Rather than relying on a blunt credit score alone, we assess each application individually — including affordability and joint household income — and structure a loan that’s reasonable for your situation, with repayment options to suit you.

Debt taken on thoughtfully, to fund a qualification that leads to a job, is an investment — not a trap. If you’re caught in the middle, talk to us about what’s possible.

Figures cited are drawn from public reporting on NSFAS and South African higher-education funding (2025–2026).