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Students, parents and stakeholders have expressed concerned over lack of awareness on modalities for accessing the Federal Government’s student loan scheme.
The students and stakeholders, who spoke in Bauchi, Gombe and Dutse decried delays in the implementation of the programme amid tuition fee hike by some tertiary institutions.
The student loan scheme initiated by President Tinubu’s administration is designed to provide interest free education loans for Nigerians willing to acquire tertiary education.
President Tinubu had in June signed the Access to Higher Education Act, 2023, otherwise known as Students Loan Act, to pave way for establishment of an Education Loan Fund to help Nigerians fund their higher education.
The benefiting students are expected to repay in installments two years after completing their National Youth Service Corps (NYSC) programme.
To fast track smooth implementation, the federal government approved N5 billion for the scheme billed to commence in January 2024.
However, the students and parents are worried over lack of awareness on eligible beneficiaries, modalities and guidelines for disbursement of the loan.
Dr Lawan Yunusa, the Commissioner for Universal Basic Education in Jigawa, identified lack of proper information as major bane to smooth take off the programme.
“There are no proper information about the nitty-gritty regarding regulations governing the scheme for students and their guardians to actually decide whether to venture into it or not.
“The federal government should as a matter of urgency come out with clear information on how applicants could benefit and repayment after graduation,” he said.
Ms Amina Usman, a 300 level student, Federal University Dutse (FUD), said she only heard of the scheme but lack in depth knowledge on its modalities.
Another student, Muhammed Abdurrahman, said he only knew about the scheme on the media and didn’t how to access it.
Also, Mr Muhammad Auwal, the President, Student Union Government, FUD, said a non governmental organisation had sensitised students on the scheme.
“The sensitisation exercise did not record significant turn out, but we realised that the disadvantages are higher than the advantages of the scheme.
“So, even at our level as the student union leaders, we didn’t make any move to obtain information on it as the students may not accept it,” Auwal said.
Mr Ibrahim Umar, Head of Department Planning and Research, National Orientation Agency (NOA) in Dutse, said the Agency was yet to sesnitise stakeholders on the scheme.
Commenting on merit and de-merit of the scheme, a lecturer, Dr Abba Mahmud, said proper awareness creation would enable the students to make informed choices on the scheme.
He said the loans would discard financial concerns on students and provide solace to parents with educational burden.
“The loan is low interest rate with lucrative flexibility of repayment.
“Some of the disadvantages will throw the financial goals of students into jeopardy.
“If a student borrows too much loan, his dreams of buying a house, retirement savings and other needs may be jeopardise,” se said.
Similarly, Mr Nura Kobi, the NOA Director in Bauchi, said the Agency has sensitised students, parents and other stakeholders on the scheme in the state.
He listed the benefiting schools to include Adamu Tafawa Balewa College of Education, Kangere; Abubakar Tatari Ali Polytechnic, Bauchi and other health collages.
TheAgency, he said would conduct similar exercise at the Federal Polytechnic, Bauchi, and Abubakar Tafawa Balewa University (ATBU), Bauchi.
“However, the exercise was suspended sequel to inquiries by students to our office on modalities of the scheme.
“But now that the money has been approved, they will soon come out with the modalities.
“So, it is better we go with the modalities to inform the students, otherwise, we will have to revisit them again.
“As soon as the modalities are available to us, we will continue the exercise but a lot of people are aware of the scheme, especially with media engagement,” Kobi said.
The NOA official said that some parents who participated in the sensitisation exercises lauded the initiative.
“They are happy because President Tinubu’s gesture renewed their hope’s to enable their children to complete their education in spite the rising tuition fee”.
On his part, Mrs Adaline Patari, the NOA Director in Gombe, urged students and parents to embrace the scheme to enhance access to quality higher education.
Patari lauded the gesture, adding that the interest free loan would ensure access to higher education for indigent students.
She said the opportunities provided by the federal government was commendable as it would help indigent students achieve their dreams in life.
“The loan scheme is a good initiative that will help poor students to access education and this is why they must embrace this scheme.
“Parents in Gombe State who are majorly farmers and may not have all the resources to see their children through tertiary institutions will now heave a sigh of relief,” she said.
Patari said the scheme would help reduce the number of school drop out for lack of fund.
“The loan should not be seen as a grant; hence as you collect for those that will be considered, you must have the mindset of paying back.
“Paying back the loan will help more persons to benefit from the scheme going forward,” she said.