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)
Its for a better opportunity and offer
I think this is a good initiative and prompt implementation and functioning is important because these will help cushion the effects of inflation, the fall in Naira value and especially the hike in cost of education.
I just hope this works out well for student.
Hope to see this opportunity for Nigerian student
I just patiently looking forward to the unleashing of this administration promise.
It will be a nice opportunity for Nigerian student if it is effected.
The student loan scheme being offered to disadvantaged students is more of a hope to students who desire education greatly but cannot further due to no funds . Government should suggest measures to remove the obstacle encountered due to expansion .The committee should also engage with the stakeholders like NANS increasing the effectiveness of students participation in the loan thus ensuring that students have access to the education they have always desired
Well… In my own opinion, it is a very Clear initiative and all procedures should be adopted to ensure that the SLF Project becomes a success
Well I feel like, the whole matter has turn to political stuffs. Many students anticipated this initiatives but it didn’t come. I pray the delay is for good not tricking it to make it hard for common students to access the loan
CRF is a great initiative for Nigerian students, I hope it come down just like the government as promised, it is also important for the government to let us be aware of the difficulties face so we would be prepared to face the uncertainties with an understanding of what is the cause is.
CRF is a great innovation! Thank you Federal government
Because of expansion of the scheme and introduction of some criteria.
Government has made quite a number of promises pertaining crucial national matters at most time nothing comes to play. If government will keep to their words, the scheme will relief so much burden on students with financial difficulties pursuing their education. At the moment , the claim for delay is expansion , i will suggest that a proper panning be done and if patnership with bodies will work, that can be embraced but let the goal of this be achieved at the end, thats all that matters.
It is a great opportunity for the students and they should do their best to ensure it favors us.
I just patiently looking forward to the unleashing of this administration promise.
It will be a nice opportunity for Nigerian student if it is effected.
Seeing this I feel better although the Nigeria System is so corrupt and destroyed that Matters like this are not taken into consideration so bad
In my own perspective, I think that the government should stop delaying the student loan fund and they should endeavor to keep each of their promises and fight in any way they can to fulfill their promises in other to make Nigerian student happy
Delays in implementing promised changes or relief measures can create uncertainty and financial strain for borrowers. It is important for governments to fulfill their commitments in a timely manner to provide much-needed support to students and graduates managing student loan debt. Communication and transparency regarding the status of promised initiatives are crucial to maintaining trust and accountability in the education financing system.
I think the expansion part, should be left out first,instead of delaying the program and keeping the students and parents hopes high,the government should do what they are capable of.
I pray that this works out
I think Government should make use of this idea as a scholarship for Nigerian students base on merit alone instead of making it as a loan that some people cannot even afford to pay back.
I think it’s a good offer which help a lot of student and families elevate some of the most pressing educational financial needs.
So a lot of Nigerian students are looking forward to it.
If it does indeed materialize, it will greatly contribute to Nigerian students reaching their goals, but if it doesn’t, then that’s just the way it goes.
The government promises and delays related with student loans causes frustration and concern among student borrowers. Delays can lead to uncertainty and financial strain, impacting students’ ability to plan for their futures. Additionally, broken promises destroy the trust in governmental institutions and add to the existing economic inequalities.
The student loan will serve as a mitigating tool to ease and mitigate the suffering of most Nigerian students
However, the Government should make sure that the project is executed accordingly and provide measures to make sure that the loan is not been abused by the students.
Well, since a collective action has been established, I just hope the needful is done, and the funds are disbursed at the exact time stated in the timetable InshAllah. May Almighty Allah continue to preserve the board and its members upon goodness.
Personally, I think the government should have worked on giving grants rather than loans. Considering that the fuel subsidy has been removed, this means that there’s more cash flow in the Nigerian economy. A portion of this money, should be out aside to grant indigent students scholarships afterall no nation can thrive without opportunities for quality education. Loans are like bondage. How does one study comfortably knowing that he/she has loans to pay off and the requirements for the Loan are too stringent.
I got value. Thanks for the enlightenment
I thinks it is a very good idea and it is going to go a long way in helping the students, may almighty Allah provide for all of us
Well, even at this times, I believe the CRF has come to put smile on every students faces in order to ease the burden the Nigerian government are finding difficult to.
I believe that the government creating scholarship for student will be more better than student loan
We urge for reliable and better loan disbursement from the government
Okay, this is a great idea and worthy for implementation
My prayer is that God should interfere in the leadership system of Nigeria and make a great turnaround for good.
Essential message of use
It will be a good opportunity for Nigerian students especially the less privilege and it should be structured in such a way that they will be a beneficiary.
Splendid
We are still hoping on the CRF..as this will be a huge advantage for the Nigerian students.
It’s actually a nice initiative, but we hope it won’t be delayed any further, because a lot of Nigeria students are not studying with ease due to our economic situation, so I think the earlier; the better…
Valid information
This will be a great achievement because it will surly assist in education poverty management in the country.
As at yesterday, the students loan initiative was passed into law and is to kick start in September this year. I pray it works out.
However CRF has been of great help to students and my prayers are with them to keep up the good work.
Promising policies. I hope it work out
I love the idea of collective call for action because for me it’s will help alot of students, including me
Because it’s not funny out there.i love the fact that the NANAS president really want to do something about it and we so grateful when it’s come to pass
This is actually a good initiative, hope to see this opportunity for Nigerian student
I think this is a good initiative and prompt implementation and functioning is important because these will help cushion the effects of inflation,
It’s a nice idea concerning the update gotten from CRF and we are all hoping to see success at the end.
At least this is spirit lifting, Nigerian students now have hope, thank God.
Our hope is on God and also those leaders that are active to do All the needful.
I hope it works out, many people are not going to school because of financial issues
This is great
The student loan scheme conditions are not favourable for students especially the indigent students who really needs the financial assistance.
Nice idea
I think that the government promises are good and will greatly give most students the aid that they need educationally, thereby reducing/relieving the financial demands placed on the students and I also think that the delays should be rectified as a lot of students are looking up to the government for the fulfillment of the promise which has been made.
This would go a long way