The planned debut of the Student Loan Scheme’s online application by President Bola Tinubu on February 21 of this year might encounter a delay as the National Association of Nigerian Students requests a postponement, citing neglect of student input.
According to Vanguard, the Executive Secretary of the scheme has not engaged with student leadership to gather their insights on its operational framework. Students liken the situation to clandestine decision-making.
When reached by phone, NANS National President Comrade Lucky Emonefe informed our correspondent of the association’s intent to dispatch a letter to President Tinubu, expressing dissatisfaction with the handling of the scheme. Emonefe emphasized the necessity for student involvement in shaping the scheme’s dynamics and urged a pause on the app launch pending resolution of their concerns.
Emonefe voiced NANS’ objection to including students from private higher institutions as beneficiaries, expressing concern that it might exacerbate fee inflation in public schools. He advocated for a focus on assisting indigent students and criticized eligibility criteria such as the requirement for two civil servant guarantors.
“Yes, we are not happy with the way the issue is being handled by some people saddled with the running of the scheme. Up until now, the Executive Secretary has not met with students to get their input into how they want the scheme to run. We are writing a letter to President Bola Tinubu that the launch of the app be put on hold.
“We are submitting a letter to the President and we want His Excellency to listen to us and put the launch of the app on hold. You cannot have a scheme or programme meant for students and the students would not be able to make contributions. We are going to request that the launch be put on hold until our observations are taken note of, “ he said.
Regarding disbursement, Emonefe outlined plans for direct payments to schools, landlords, and beneficiaries’ accounts based on their needs.
“If a man can afford to send his child to a private university where over N1 million is charged as fees why should such a person begin to struggle for a loan that may be less than N200,000? Such is for students in public schools. If they include students in private schools as beneficiaries, it may prompt public schools to further raise their fees. We want as many students as possible in public schools to benefit.
“As for the financial status of families of beneficiaries, we want as many indigent students as possible to benefit. Anybody who earns N500,000 and above as annual income should be able to sponsor their wards. We also don’t want the provision that one needs two civil servants in grade level 12 and above, as guarantors. Not many students would be able to meet that condition. We want students to only show evidence of being indigent, “ he added.
Recall that despite several assurances from the Federal Government, the scheme, initially slated to commence late last year, faced delays, with January 2024 mentioned as the new launch date.
Key areas of contention among stakeholders include eligibility criteria, guarantor selection, and repayment terms. Eligibility stipulations include a cap on annual income and the requirement for guarantors from specific professions or civil service levels.
Repayment is slated to begin post-NYSC completion, with deductions from salaries or monthly profits, though concerns persist about job availability for graduates.
Section 6 (f) of the Act mandates academic performance monitoring but lacks provisions for curriculum alignment with economic realities to ensure successful loan repayment.
Meanwhile, the National Parent Teacher Association of Nigeria, Alhaji Haruna Danjuma voiced discontent over exclusion from scheme deliberations and raised concerns about job availability for graduates.
“We were not invited for any meeting regarding the planning of the scheme. Not even being asked for any suggestion and parents are critical stakeholders in the education sector. It is like the government feels it only has to relate with students and that is all. “We have some reservations about some provisions of the law setting up the scheme. For instance, the issue of repayment of the loan; where are the jobs for the beneficiaries to engage in after leaving school? We have other observations, but they have not given us the chance to make any input. Can it really take off this month? Let us wait and see, “ he said.
