Convert Student Loan To Grant For Poor Students, ASUU Urges Tinubu

ASUU has urges Tinubu to convert the Student Loan to grant for poor students.

Glamtush recalls that on Monday, Tinubu signed into law the Students Loans Bill in fulfilment of a promise he made during his campaign. The bill was sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, who is now the President’s Chief of Staff. Now an Act, the law provides for interest-free loans to poor Nigerian students.

However, the ASUU President said the loan is impracticable. He said the loan is “not sustainable”.

Osodeke said, “The idea of student loan came in 1972 and it was in a bank established. People who took loans never paid, you can go and investigate. In 1994, 1993, the military enacted Decree 50 also set up a Students’ Loan Board. The National Assembly domesticated it in 2004 and within a year, it went off. The money disappeared. We want to see how this one will be different.”

According to him, there are more than one million students in Nigerian public universities and the loan cannot adequately cater for students’ tuition.

The ASUU President said the conditions for the loan are “not practicable”, adding that more than 90% of students won’t meet the “stringent requirements” to access and repay the loan.

“We, as a union also did research of countries all over the world, of people who have benefited from this loan, they were committing suicide. Recently, (President Joe) Biden is trying to pay back the bank loans of some who borrowed in the US,” he said.

“It is better to look for alternative means of funding education than to encumbering students whose parents earn N30,000 a month with a loan.”