Calls For Postponement Grow As NANS Raises Issues With Student Loan App Release

Calls For Postponement Grow As NANS Raises Issues With Student Loan App Release....KINDLY READ THE FULL STORY HERE▶

Lagos: The anticipated launch of the Student Loan Scheme’s online application by President Bola Tinubu on February 21 may face a delay, as the National Association of Nigerian Students (NANS) is requesting a postponement, citing the alleged neglect of student input in the scheme’s planning……….CONTINUE READING

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According to a Vanguard investigation, the Executive Secretary of the scheme has not engaged with the leadership of the student body to incorporate their perspectives on how the program should be implemented.

NANS expressed dissatisfaction with the lack of consultation, likening the situation to attempting to shave someone’s head without their knowledge. National President of NANS, Comrade Lucky Emonefe, stated that the association plans to submit a letter to President Bola Tinubu on Monday, urging the postponement of the app launch.

Emonefe highlighted concerns about including students from private higher institutions as beneficiaries, arguing that those who can afford private education should not compete for loans meant for public school students. He emphasized the importance of focusing on indigent students and eliminating stringent eligibility conditions, such as the requirement for two civil servants in grade level 12 and above as guarantors.

Regarding the disbursement of funds, Emonefe outlined that tuition fees would go directly to schools, accommodation expenses to landlords, and pocket money to the students’ accounts.

The Student Loan Scheme, initially slated for launch in January 2024 by the federal government, has faced criticism from various stakeholders. Concerns include eligibility criteria, guarantor requirements, and the repayment period. The primary conditions for applicants include an income limit of N500,000 per annum, providing two civil servants as guarantors, and initiating loan repayment two years after completing the National Youth Service Corps (NYSC) program.

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Source: Bushradiogist