The Academic Staff Union of Universities (ASUU) has asked President Bola Tinubu to convert the newly assented Students Loans Act to grants for indigent students.
ASUU National President, Prof Emmanuel Osodeke gave this advice on Channels Television, positing, “This would have been better if we are giving it to those set of students who are very poor, it should be called a grant, not a loan.”
On the conditionalities of accessing the loan and repayment, Prof. Osodeke said the conditions for the loan are “impracticable and not sustainable,” adding that more than 90% of students won’t meet the “stringent requirements” to access and repay the loan.
Recall that recently President Tinubu signed into law the Students’ Loans Bill in fulfillment of a promise he made during his campaign.
The Act dismantles the barrier often hindering talented individuals from pursuing higher education by offering interest-free loans to poor Nigerian students, with the repayment commencing exactly two years after the completion of the NYSC programme by the debtor.
The bill was sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, who is now the President’s Chief of Staff.
