The Permanent Secretary, Federal Ministry of Education, Andrew David Adejo, who revealed this while speaking to newsmen in Abuja, said already, President Bola Tinubu has approved a committee made up of ministries and agencies to see to the realization of the Students Loan Bill he recently assented to.
Adejo said “The bill is to make sure that every Nigerian has access to higher education through what we called the Higher Education Nigerian Bank.
“The president has also directed that by September to October of this 2023/2024 academic session, he wants to see recipients of these loans. So it is a very serious march for us so between now and then we have to phantom the process for people to get the loan,” he added.
“We are not going to use existing banks. We are going to create a new bank that will address this because we can’t use an existing bank.
“We don’t want to make it that only people who want to go to public schools will benefit from, private schools are paying tuition so you have to give them the opportunity.
From Vanguard
It's not all about the student loan but the quality of our educational system. What Nigerian students need at this time is Government Grant.
ReplyDeleteThe quality just like David Hundeyin rightly said, ''is more important than the access.''
School isn't scam. The scam is Nigeria.
Oga for once disappoint me. You must not complain every time. I did not voted for him but if he gets it right i will applaud him, and criticise when he erred
DeleteSo did he get it right? Let's talk if you don't mind.
DeleteNo, I don't think he has gotten it completely right. How do you pay for a loan after school when you clearly don't know if you will get a job when you graduate? The students should be assured they will be employed when they finish. If you want to help, create more job opportunities, don't just give loans, give grants as well.
DeleteAnon 12:39,
DeleteOne flyover for you in Wike's voice. 😁😁😁.
This is no rocket science but some gullible supporters won't understand it but then, I'm not surprised. Their brain might have been swapped with corn.
If you have any plans to japa after wards, abeg free their loan oh! Just a friendly advice
ReplyDeleteThe conditions to even get the loan makes it even harder for the common man.
DeleteTo me, this is more of an embezzlement scheme.
To get this "student loan," you need to bring a Director-level civil servant or a lawyer with 19 years post-call history, or a judge.
DeleteWhy would anyone who has access to these people need a student loan? ~David Hundeyin
Teejay I'm always looking forward to your comments...
Delete*10 years post-call history.
DeleteThanks Anon 11:20. I feel honoured. The truth must always be told for posterity sake.
I forgot to add, no sensible person will agree to be guarantor to someone who is not their child because the punishment for defaulting is prison.
DeleteAgain, it's stated that “disbursement shall be on availability of funds”
So after all the processes, the person may still not get the loan because no funds? 😭😭😭
Teejay you seem interested in this topic so let me discuss it well with you
DeleteStudent loan even in a limited capacity like this is a good thing
I’m helping lots of folks with school and it’s a huge burden to carry at once. If they can get student loan with me as guarantor, I won’t mind. Yes some may not be able to pay but most will and for the others, I’ll cover slowly. Keep in mind part of guaranteeing a loan is considering if the person can pay back. For those I’m helping with school I’m also teaching them how to pick the right course to study. If you study some good courses, unless something goes terribly wrong, you can easily pay back Nigerian school loan cause the fees are not high. Even me as the guarantor may just need the bulk amount paid at the semester and I can slowly be paying down the loan even while you’re in school
A few years ago I emptied my account so my cousin could do final year exam. If she had loan, I could have paid slowly
You may say oh the guarantor can just pay it. How? With all the other responsibilities
No my dear take it and japa
DeleteThen pay
If you’re converting dollars to pay this student loan you can probably pay in one month of working an okay job abroad
Don’t let anyone hoodwink you
Take the loan
Anon 13:34,
DeleteUnfortunately, the loan isn't given to an individual directly but will be paid into the school's account directly for tuition. So you can have access to the fund.
Anon 13:32,
Thanks for your contribution to humanity but you just confirmed all I have been saying. If you weren't working, would you be able to pay some of the loan you paid or would you have emptied your account for your cousin at the time?
It all bore down to will these students get a job two years after NYSC? That's the big question here? That's the deciding factor. How many graduates have stayed home over 5yrs without job?
Thank you.
Lol teejay loan is not enough to japa now
DeleteI’m responding to the japa comment so I clearly mean “take the loan” finish school and then japa
Open your mind then you’ll understand better
Even if you’re working, it doesn’t mean you don’t need a loan
Can most of us buy house without loan
This scheme is neither for the rich or the poor, just another means of stealing public funds.
ReplyDeleteThe criteria to qualify for the loan puts the poor at a disadvantage, and a person that qualifies obviously does not need the loan
No body wants to look at that angle but are quick attacking me and any other person kicking against it. It's another embezzlement scheme. The same way we shouted on the failed 'Nigerian Air'
DeleteGive Nigerians educational Grant. This is what they need now the most. If Nigeria had a working system, I would have been the first to support the loan idea.
This project is bound to fail. It's another White elephant project to steal and loot the treasury.
So loan is "white elephant" but grant is not? Some people just make no sense. You better allow people accept the help they need, so they don't have to sell gala in traffic. Hundeyi that was expelled from Oxford partly due to extortion, maybe he would not have needed the 20 pounds donation if he had adequate funding through loans since what ever grants he had was not available or sustainable.
DeleteI advice those seeking to up their skills not to be deceived by those who missed out on education to derail your future.
ReplyDeleteFurther your knowledge with in- demand courses and degrees and you won't become like those who are so disillusioned by challenges that they start looking to terrorist groups and unprepared fascists who promise what no human can deliver.
Knowledge empowers you to solve problems and think objectively, connecting dots and creating solutions. These naysayers are hoping against hope to do more for their own children so they don't repeat their parent's mistakes, but will tell you to end up like them, having settled for graduation by association or marriage. Should you not date because the divorce rate is rising? Should you not eat today because you are not sure of food next week? Should you not pass your WAEC because your are unsure of admission? Why have kids who may die before they graduate?
Count the cost and align yourself with a career path that you are capable of thriving in and excelling at. Knowledge is applicable everywhere and no one is ever guaranteed a job because you hold a certificate. You are the one to equip yourself, stand out from the crowd and also earn skills that will help you be financially independent.
Your age mates are applying knowledge acquired in areas of agriculture, service sector, hospitality and businesses and are doing well despite anemic policies of the past decades. Others have taken their skills abroad or render them internationally from home. It is more than possible for you as well.
Well said Anonymous. You could not have said it any better. University degree is just an icing on the cake. We need a skill based economy
DeleteRemoving all barriers to an education is good move. Nigerians are blessed with great intelligence, something that few countries can boast of, even some of the richest nations; recognizing this is the start to the building a superb nation. Please do not let it stop at educating only, please also ensure a push for job creation so everyone gets a chance to a great quality of life in their own country.
ReplyDeleteThis is long overdue
ReplyDeleteIt’s a sad thing when a child has to drop out cause of no money
Hopefully they make it more accessible
Nigeria is about who you know, high unemployment rates has turned many graduates dire career reality. Will student loans erase unending university strikes?,
ReplyDeleteEmployment, apprenticeship with big companies that will provide a market rate salary whilst learning is what Nigerian students needs, not students loans.
Oh God!
ReplyDeleteWhile this is a good thing, if it is paired with privatisation of our government universities there will be a BIG problem. Ask the US of A.
Retain public participation in education and this is a welcome development.
Mystic
Usa has no issues with private universities
DeleteThat’s just propaganda
There are public universities in all states
Throwing money at problems rather than DEEPLY thinking about long term solutions
ReplyDeleteWhat's your "DEEPLY" thought solution anon 20:10? Please share, who knows, the world might learn a thing or two. Being contrarian just for the sake of it is extremely silly. Applaud good things, that way when you criticize bad ones, it'll be obvious it's coming from a good place and will effect a change.
Delete