National Student Financial Aid Scheme (NSFAS) CEO Steven Zwane has been fired.

The student funding scheme confirmed in a statement that Zwane and NSFAS came to an agreement on the termination of his services on Tuesday, just as his disciplinary hearing commenced.

“Following the first day of his disciplinary hearing, Mr Steven Zwane and the National Student  Financial Aid Scheme (NSFAS) concluded a termination agreement,” read the statement.

“Mr Zwane’s employment as [chief] executive officer of NSFAS ended on October 2 2018. All other aspects of the termination agreement are confidential.”

Zwane was placed on suspension in August pending the outcome of an investigation into allegations of maladministration at the scheme.

The under-pressure scheme has been placed under administration, with its governance under review.

- Additional reporting by Yoliswa Sobuswa and Nico Gous