Today, March 14, 2024, the long awaited Tinubu-led government initiated Student Loan Scheme was scheduled for Presidential launch, given the wide publicity it attracted. But barely 48 hours to the mush advertised inauguration the government shifted the date indefinitely. It was not the first time. Since January this year the launch has been postponed more than once, adding to the delayed takeoff the scheme has faced. Gom Mirian writes on the consequences of the delays after raising hopes of many students.
Funding Education in Nigeria, Dashed Hopes
Yesterday, March 13, 2024, the federal government reportedly announced it has deferred the launch of the Student Loan Scheme. The decision left many dismayed. The Special Adviser to the President on Media and Publicity, Mr. Ajuri Ngelale, has said categorically on Sunday during a live TV programme on TVC on Sunday monitored in Abuja, that President Tinubu would launch the scheme on Thursday.
But the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, said it would no longer happen.
Sawyer said the loan scheme was postponed due to some corrections that were being made around the launch.
“Unfortunately, I won’t be able to commit to a specific date. We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can actually roll this out in a meaningful, comprehensive, wholesome and sustainable way,” he said.
He made this known during an interview with ARISE NEWS on Tuesday.
History of Deferments
In June 2023, President Bola Tinubu signed a bill to start a Students Loan Fund that would give interest-free loans to Nigerians for higher education.
A former Speaker of the House of Representatives, Femi Gbajabiamila, proposed the bill and it was supposed to start between September and October 2023.
President Tinubu said the programme would begin in January 2024, after missing the October deadline.
In January, Minister of State for Education, Yusuf Sununu, said at a meeting that preparations for the program were finished. This included making the Student Loan Scheme website and planning how to start the programme.
Also, Tinubu told leaders of the National Association of Nigerian Students that the programme would start once they added more features, like vocational studies.
In a country where access to higher education has been a challenge for many due to financial constraints, the Nigerian student loan scheme was envisioned as a beacon of hope for indigent students. However, the delay in its implementation has left many students in a precarious situation, with their dreams of completing their education hanging in the balance.
Student Plight
The plight of Ada Amazu, a final-year student of Veterinary Medicine at the University of Abuja, serves as a stark reminder of the challenges faced by many students. After being asked to repeat an academic session due to her inability to pay the hiked tuition fees, Ada found herself in a desperate situation, contemplating drastic measures. Her story is just one among many, highlighting the urgent need for the student loan scheme to become a reality.
As the government grapples with the complexities of launching the program, concerns and hopes are voiced by various stakeholders and beneficiaries alike.
Civil Servant Say is Dimmed Hope
In an interview with African Health Report, (AHR) Mr. Ernest Iwoho, a civil servant, expresses cautious optimism, emphasising the need for transparency and accountability in ensuring that the funds reach the deserving students. Stating, “Is a welcome development if this money will get to the right person. But we are afraid this might end up in the rich children’s pocket for breakfast as it had always been.
“They will later go to a radio station or TV and announce that thousands of people have collected the loan without a proven record of the real people,” Mr. Iwoho added.
Mazi Okorafo, while acknowledging the initiative’s potential, raises concerns about the loan repayment duration, advocating for a longer timeframe to alleviate the burden on students entering the job market.
He said, ” The payment method, the government has to look into the three years. To me I will suggest five years because by the time you finish your NYSC, you enter the labour market in search of a job or maybe you have a skill struggling to establish something three years are already gone.
“Despite this federal government loan scheme, the state government should try as much as possible to bring back the scholarship and state allowance because if you add this loan to it many Nigerian students will not complain or get involved in other social vices to make earnings met,” he added.
Conversely, Mrs. Ijeoma Njoku, a bookshop vendor and mother of three, voices skepticism about the scheme, citing the high levels of unemployment in the country and the potential burden it may place on students’ post-graduation. Stating, “For me, this is not a welcome development because a lot of children/ youths are already seeing education in the country as a scam and a waste of time and resources because after the education, what is next? you don’t see the job to do with the certificate, you come back and start hawking with uneducated ones. She asked. “Can the government be patient to wait for them after studies to pay while still looking for a job, or frustrate them with the loan burden?”
Impact
These sentiments reflect the deep-seated concerns within the community about the long-term impact of the student loan scheme.
Nigeria would not be the first country in the world to have this student education loan scheme if eventually launched, however, other organised or more developed countries like the USA had this in place but encountered more challenges than ever imagined. The word ‘loan’ is often messed up with the whole excitement forgetting that it is a loan that must be repaid. Reports from those countries have shown high statistics of suicidal missions by the students who collected the loans and acquired higher education but in the end are mourning that the loan had done more harm than good to them, particularly in America where they mortgage their entire lives in paying back these loans.
Experts’ Opinion:
Dr. Sylvester Onnuma, an education management consultant, lauds the program as a groundbreaking policy that could transform the education sector.
He highlights the potential of the scheme to alleviate the financial strain on students and reduce unrest in educational institutions.
“This started in June 2023 and the president is overwhelmingly interested in giving out these loans, although in January he wanted to launch it but was postponed to February 21 and with all the indicators right now there is hope that it may be launched this week Thursday, except something otherwise happened and yesterday while the president was commissioning some projects in Niger state, he made mention of this student loan.
“This is technically driven, any student who is going to be a beneficiary of this scheme will be given every detail which would be recorded there and there is no way of removing somebody’s name and fixing another, it’s a very laudable program to us because we never witness such. All the student unrest in our institutions is a result of some student’s inability to pay their school fees.”
However, Dr. Kayode Eessuola, a political scientist and an associate professor at the University of Lagos, raises critical questions about the policy formulation and its alignment with the economic realities of the country.
He emphasises the need for a comprehensive approach that considers the diverse needs of students and the challenges they face in the current economic climate.
“It is a good way to start, however, my opinion is that is not good enough for Nigerians in this unsecured economic situation at this time but one needs to commend and be optimistic that the president someday and of the committee that works in the system will recommend what is commensurate with the social and economic realities.”
Measuring the loan offer with the social and economic realities of the country presently, Dr. Eessuola said, “When you have a loan as a student in most cases you think about paying your hostel rent, acquiring a laptop to enhance your learning, purchase of data, and feeding. Given the Nigeria of today, you will agree with me that for a year, N500,000 can’t make anybody ever excited.
“The problem I see is that in most cases our government work from answers to questions instead of the other way round and If I were Mr president, I would have probably set up a committee of stakeholders including the unions in all the universities not just academics, both the unions from colleges of education and polytechnics of their own opinion of what can this in the average sustain an average student through the university.
“I believe very strongly that if that approach had been adopted this figure wouldn’t have been arrived at. It was alluded that the loan scheme will also include vocational, and I studied the document it wasn’t related, that inclusion probably it was probably an afterthought now if the stakeholders had been engaged it would have been minded those of the committee that today all over the world university education is being pure academic education, funded on a low level so there are more agitations for more fund for vocational education.”
While questioning the credibility of measuring who these indigent students are, going forward, he called for the inclusion of expertise in the committee to formulate policy and be systematic in formulating public policies for effective outcomes to avoid policy surmasults.
Amidst these diverse perspectives, the looming question remains: when will the student loan scheme become a reality for the thousands of students eagerly awaiting its implementation? The reassurances from government officials, including the special adviser to the president on media and publicity, Ajuri Ngelale, provide a glimmer of hope.
Sonny Echono
When AHR gathered that even the stipulated 14th March, 2024 for the launch of this scheme might not be feasible it further spoke to Arc. Sonny Echono, the Executive Secretary of the Tertiary Education Trust Fund, (TETFund) who attributed the delay to housekeeping issues and consultations with stakeholders, particularly the National Assembly, underscores the complexities involved in bringing the program to fruition.
Echono, sheds light on the intricacies of the launch process, assuring students of the government’s commitment to realizing the program.
He emphasizes the scale of impact, with an estimated 140,000 students set to benefit from the interest-free loans. Additionally, he outlines plans to expand the program to encompass the skills sector, signaling a potential shift in the education landscape.
“We have synchronised with JAMB. We know when the main admission is going to take place, and Jamb is going to do the exams. The bulk of the applications will come after you have secured admission which is going to come, so we have not lost so much time only a few cases of those presently in schools have already paid their school fees for this session but we will recognise a few cases that may have challenged and I am aware that the window is going to be open for them to quickly be among the first so that we can get these done too.”
Wayforward
As the nation awaits the launch of the student loan scheme, the voices of students, educators, and community members echo the urgency of addressing the challenges faced by aspiring scholars.
The need for a systematic and inclusive approach, one that considers the economic realities and diverse needs of students, is paramount in ensuring the success of the program.
In the midst of uncertainty, one thing remains clear: the Nigerian student loan scheme has the potential to break barriers and pave the way for a brighter future for generations to come. As the countdown to the launch continues, the hopes and dreams of countless students hang in the balance, awaiting the transformative impact of this long-awaited initiative.
