Unpacking the Student Loan Disbursement Delays
In recent times, there has been growing frustration and dissatisfaction among students, parents, and other stakeholders as the disbursement of student loans promised by the Nigerian government, led by President Bola Tinubu, faces yet another setback.
The Students Loan Fund (SLF): A Noble Initiative
The Students Loan Fund (SLF), a commendable initiative aimed at providing interest-free loans to disadvantaged students, has encountered persistent challenges, missing the initial target set for January 2024.
Despite the assurance from President Tinubu, who officially signed the SLF into law in June 2023, the delay has left aspiring students and their families in a state of uncertainty. Originally slated to commence between September and October 2023, the program confronted unforeseen obstacles, leading to the revised timeline of January 2024.
Lack of Updates
According to the Minister of State for Education, Yusuf Sununu, preparations for the scheme’s launch were completed, including the finalization of the Student Loan scheme website and technical plans to facilitate the kickoff. However, reports from Leadership newspaper indicate a lack of updates on the subject since the minister’s statement.
An unnamed official from the Ministry of Education shed some light on the situation, citing expansion hurdles as a reason behind the delay in the student loan initiation. “I think the delay in the initiation of student loans arises due to obstacles in the expansion process, which hinders the timely takeoff of this financial support for students,” the official stated.
What is NANS Saying?
NANS President, Comrade Lucky Emonefe, echoed similar sentiments, mentioning that the delay is attributed to the expansion of the loan scheme. He expressed the students’ anticipation for the committee to engage with stakeholders, such as NANS, to kickstart the program.
Meanwhile, Nigerian students are urging the government to commence the student loan scheme, emphasizing its potential to unlock doors to education for those aspiring to a brighter future. Parents, too, are urging the government to expedite the student loan initiative to support their children’s pursuit of higher education.
A Collective Call for Action
The collective sentiment is a call for transparency, efficiency, and a swift resolution of the challenges hindering the commencement of the Student Loan Fund, ensuring that the promised support reaches the deserving students without further delay.
What do you think of the governmemt promises and delays associated with the Student Loan? We will like to hear from you.
Comments (125)
Hmm! It’s not an ideal thing to bring about loan for students ohh, that’s like temptation because when they get not to pay , they would be held responsible and then something must be used for collateral and instead of the SLFs to look like help , it ll be looking like a disaster…
It’s better students and parents work hard and strive harder to thrive than to depend on a loan that only God knows how you would get the money to pay back when it’s due….
And again, come to think of it, why is the government still delaying? They really need to sit and think and meditate on this their idea before implementing it đ God will help us ohh
I totally agree. If the government can give 10 students 500,000 then isnât it better to use the 5,000,000 to purchase and install needed equipments in government owned institutions. If educational equipments can be provided (I.e laptops, textbooks, laboratory supplies, etc) then at least tuition fees would be cheaper and the only expense a student would have to worry about would probably be accommodation, which by the way could still be handled by the government of course. And if not, then cafeteria should be available for feeding. Wouldnât it be cheaper using your school Id to buy food than purchasing off campus. I have much to say but primarily I think instead of giving out loans which have a potential negative effect, it would benefit everyone if the whole education system is (if not free) more affordable. Letâs not even talk about filling lecturerâs pockets for one to be able to get a document without the necessary âconnectionsâ. So help us God
It’s a bold steps taking by the government, we hope for transparency and good methods of delivering.
It the process that’s taking time, the government have good intention concerning the students education during this period.
The postponement and lack of transparency really destroyed some students plans, some needed it crucially at some point but the loan hasn’t been disbursed yet causing these students to go take up high interest loans, I know someone who did, really unfair
The process is too slow and unpredictable, and it lacks transparency
Honestly it is very bad for the government to move it forward.we pray that God should touch their heart for them to do the needful .
The government majority of students couldn’t afford their tuition fee because of the recent increments in tuition fees both state and federal universities, rather than providing the student with loan, they should come up with the initiation of cutting cost in tuition fees or providing grant to student who really needs it
I think this thing is a good initiative paneled and saddled by wrong minds, imagine where the former minister of education is right now, a practical illustration of “bad mind”.
Still on that note-bad mind-i think the project lacks proper follow up and a sincere desire to accomplish it, which spells out by the height of it’s delay.
Above all I pray it accomplishes it’s real essence and not be an opportunity for “bad minds” to veil a service to their silk-stocking progenies instead of the published intended beneficiaries.
Some people got the disbursement as at June but I was told the portal is currently close. Others applied but there loan has not been approved. May God help us in this country because the whole thing is frustrating.
Actually, for me there is nothing much to say but to admonished the Authorities and those in charge to ensure that they are capable, able and willing to start and complete such tasks they are embarking rather than start and later makes people see or say something about their processes or tagged everything with negative words and with disappointment, I will urge the Authority to be responsible and up-to-date in all things.
I’m really skeptical about the sustainability and accountability of the Student loan project. But I’m hopeful it works out well as proposed by the federal government.
If students are unable to pay back, won’t they be penalized
The process is too slow and unpredictable, and it lacks transparency