ASUU Urges FG To Convert N50 Billion Student Loan into Grant, Gives Reason

ASUU Urges FG To Convert N50 Billion Student Loan into Grant, Gives Reason

  • The Academic Staff Union of Universities (ASUU) has advised the federal government to convert student loans into grants
  • The ASUU president, Emmanuel Osodeke, said buying back the loan in a country without a guarantee of getting a job after graduation will be difficult
  • Osodeke said the loan should be converted to grant and given to children of those who earn less than N30,000 a month

Legit.ng journalist Adekunle Dada has over 5 years of experience covering basic and tertiary education in Nigeria and worldwide

FCT, Abuja - The Academic Staff Union of Universities (ASUU) has reacted to the 50 billion naira budgeted for the student loan scheme by the President Bola Tinubu-led federal government.

The ASUU president, Prof. Emmanuel Osodeke, urged the federal government to convert the loan into grants for students.

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ASUU reveals why FG should convert N50b student loan into grant
ASUU urges FG to convert N50b student loan into grant for children of the poor Photo Credit: Abubakar A. Abdulmajid
Source: Facebook

Osodeke stated this while speaking on Channels Television’s Hard Copy on Friday, December 15.

The ASUU president explained that it would be difficult to pay back the loan because jobs are not guaranteed after graduation.

According to Osodeke, grants have had more impact and are a humane investment in the education of Nigerian students.

“If the issue is just N50 billion, why can’t we convert that N50 billion as a country like Nigeria to grants for the children of the very poor?
“Let’s give to those who cannot afford it, not give them as a loan that becomes a liability for them before they even graduate and are not sure of getting a job.
“We are thinking of the Nigerian people, those who cannot afford it, those children who are in the villages whose parents earn less than N30,000 a month,”

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How to apply, other details about student loan bill

Meanwhile, Legit.ng reported that after the signing of the Student Loan Bill, applicants are expected to apply to access the loan. President Tinubu, on Monday, June 12, signed the bill into law to help indigent students access loans for their tertiary education.

The yet-to-be-created Nigeria Education Bank will be in charge of the process under the supervision of the Central Bank of Nigeria.

As it stands, no date has been disclosed for the commencement of the process. However, questions on how to go about the application have emerged.

Persons with criminal records, 4 other categories cannot access Tinubu’s student loan

Legit.ng also reported that expectations of parents and students alike to acquire tertiary education have been high since the day Tinubu signed the Students Loan Bill into law.

The Students Loan Bill was the third of its kind that President Tinubu had signed since assuming office on Monday, May 29. President Bola Tinubu signs 3rd bill Into law within 15 days of resumption

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Source: Legit.ng

Adekunle Dada avatar

Adekunle Dada (Politics and Current Affairs Editor) Adekunle Dada is a journalist with over 5 years of working experience in the media. He has worked with PM News, The Sun and Within Nigeria before joining Legit.ng as a Politics/Current Affairs Editor. He holds a B.Sc. in Mass Communication from Lagos State University (LASU). He can be reached via adekunle.dada@corp.legit.ng.

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