Unpacking the Student Loan Disbursement Delays
In recent times, there has been growing frustration and dissatisfaction among students, parents, and other stakeholders as the disbursement of student loans promised by the Nigerian government, led by President Bola Tinubu, faces yet another setback.
The Students Loan Fund (SLF): A Noble Initiative
The Students Loan Fund (SLF), a commendable initiative aimed at providing interest-free loans to disadvantaged students, has encountered persistent challenges, missing the initial target set for January 2024.
Despite the assurance from President Tinubu, who officially signed the SLF into law in June 2023, the delay has left aspiring students and their families in a state of uncertainty. Originally slated to commence between September and October 2023, the program confronted unforeseen obstacles, leading to the revised timeline of January 2024.
Lack of Updates
According to the Minister of State for Education, Yusuf Sununu, preparations for the scheme’s launch were completed, including the finalization of the Student Loan scheme website and technical plans to facilitate the kickoff. However, reports from Leadership newspaper indicate a lack of updates on the subject since the minister’s statement.
An unnamed official from the Ministry of Education shed some light on the situation, citing expansion hurdles as a reason behind the delay in the student loan initiation. “I think the delay in the initiation of student loans arises due to obstacles in the expansion process, which hinders the timely takeoff of this financial support for students,” the official stated.
What is NANS Saying?
NANS President, Comrade Lucky Emonefe, echoed similar sentiments, mentioning that the delay is attributed to the expansion of the loan scheme. He expressed the students’ anticipation for the committee to engage with stakeholders, such as NANS, to kickstart the program.
Meanwhile, Nigerian students are urging the government to commence the student loan scheme, emphasizing its potential to unlock doors to education for those aspiring to a brighter future. Parents, too, are urging the government to expedite the student loan initiative to support their children’s pursuit of higher education.
A Collective Call for Action
The collective sentiment is a call for transparency, efficiency, and a swift resolution of the challenges hindering the commencement of the Student Loan Fund, ensuring that the promised support reaches the deserving students without further delay.
What do you think of the governmemt promises and delays associated with the Student Loan? We will like to hear from you.
Comments (131)
A lot of questions run through my mind anytime I remember this Student Loan of a thing. If there is a plan on giving loan to student that can’t afford higher education tuition fee even when it is a Government fund School why should there be an increment first in those school. After about 100percent of increment or more in almost all the Federal schools then a Student Loan Scheme is provided for them, it look like a trap to me. The requirements alone shows that it is not for indigent. So what is the point if only those that can afford the tuition are still the same set of people that can have the Loan. Indeed only God can send help to the needy.
If it’s totally free
It won’t be valued and those who get it .at not still take sch seriously
At least the effort one put to pay the tuition fee shows that readiness to learn.
Me set I borrow money start sch
You don’t get Faith point, it all look like a trap. There are ways they can cut a lot of payment for students in federal universities but they ain’t doing it.
It’s not like it looks like a trap, it’s a debt trap. This student loan of a thing is like a financial strategy used by governement to balance and keep check the revenue generated from students. The student loan was signed into action only when their was an increment in the general student tution fees. Let’s take a look at the developed countries such as the The United State. If you know how this student loan usually affect graduates after school even when there are available jobs on ground, you wouldn’t be motivated to take it all and that’s a developed country not to talk of our Nation that still developing and lack the minimum required employment capabilities. But when their is no option, you gotta take it and be very focused keeping a good mindset to get your bills settled on time when due.
Honestly!!!
The requirements have been changes shaa. I guess the govt heard the cry of the students
I thought the federal government was just wasting our valuable time by complaining. They are of no use to us as students studying in this nation.
I just hope they try and fix the issue of the expansion on time and get the loan disbursed.
A lot of us are really looking forward to it
Hope so too
Literally this loan of a thing 😤😤
Honestly when anything about government promises to help the needy or any news about student loan or scholarships is mentioned in nigeria, i always feel discouraged and disappointed because at the end of the day, it is always manipulated whereas the people in charge tend to favour those they know, not even considering those who needs it most…
To be honest i have come across so many students who tend to disregard any case concerning this aspect, they say its all full of failed promises, corruption and scams, they can never rely or put their hope in nigeria’s government.
I just hope this can change their mind set for the better and build a better future for nigeria
I think the government is not ready to help the less privilege
Imagine of this Student loan has been approved I wouldn’t have be on Leave of Absence cause I wasn’t able to pay this session fee
I now have to remain in same level for a whole session whiley Mathews have moved on
I hope am granted scholarship here and president Bola Ahmed Tinubu Approved and endorse the Students loan for we the indigent
It honestly saddens me because most Nigerians will not have access to this loan. The requirements itself is scary not to talk of sorting out debts upon debts after graduating college. I think the best thing government could do is to put back the education subsidy they initially removed, that way schools won’t have to increase their fees.
Prioritizing the needs of students would impact positively to our educational development.
Yes
Well spoken 👌. I hope this scheme changes their point of view about “FG loans and scholarships”. We just need to keep “hoping” as we live our lives. As we all know ” when there is life, there is hope”.
Nigeria should invest in the educational sector
I always lost hope in anything scholarship, grant and loan in Nigeria because they won’t give it those in need rather they will give to their relative and those they knew. Only in Nigeria that the rich will be getting richer and the poor will be getting poorer
I don’t think the government is serious about the SLS. The delay is uncalled for.
All this unnecessary games, Nigeria has what it takes to help her students get to where they are going in their academic pursue but they overlook it. Though I know there is hope for Nigeria but I don’t think it will come from government.
The remarks made by the Minister of State Education, Yusuf Sununu, and the unnamed official, indicate the improbability of the possibility of implementing the scheme that was passed into law in June 2023. The country is already in dire need of assistance due to inflation and debts owed by past and present administrations. A country in such desperate circumstances poses a danger to itself. Now, discussing student loans that could impoverish millions of Nigerians and indebted students to the government, one needs to consider the situation in the USA and its Student Loan Scheme.
I was skeptical when the current administration announced the scheme; it seemed more like a promise for the manifesto. I would urge the government to prioritize promoting more scholarship schemes to assist students in need who aspire to pursue education. This approach would be better suited to address the challenges.
I think the federal government needs to convince us more by putting their words to action. Till then…
Even if they FG, starts disbursing the students loan today, I’m not going to take a dime from it… I see how generous Nigerian leaders try to be by trapping the upcoming generation.
The delays will finally meet an end but will the loan help ends meet?
My problem is that I can’t find my question ànd today is my test
I just pray this scholarship works out🥺🥺
First thing first, it’s a loan, which is a red flag for me, because I would still have to pay back after uni, to think that getting a job immediately after leaving the university is not certain, so I would rather opt for a scholarship rather than getting the loan. Plus it’s a federal government thing, the bureaucratic nature of getting it is enough to put one off. Delays with things that have to do with the public in Nigeria is no longer new to us. If only it could be made easier, simplier and accessible in a subsidize form really not loan, because we need this help, I do and I know people that do too.
Hopefully it all works out
Hopefully ooo
We’ve been patiently waiting
When the going get tough….
This has been a word of encouragement for me
It will be of a great help to Students only it will work out.
The less privilege do not have a better choice to choose
Love this!
Disbursement should start
We’ve all been waiting
Thank you CRF
I still can’t think of the loan as something that was really going to happen. The government sometimes just do these kind of things to gain supporters with promises and then dump the project after getting what they want. I rely on God to ensure that I’m able to go to school, it is by His grace this country will move forward.
Well, the loan is out now and to an extent, I’m fine with the guidelines of obtaining and repayment of the loan.
great
I think the loan scheme is nice if they are not biased and partial about the disbursement but where I have doubt is the aspect where you can only payback after years you borrowed, some people might have forgotten they lent money.
fingers crossed; with rising unemployment according to the NBS report, how do students repay this loan? Generally, I think we have issues with borrowing and repaying, I think this will be another litmus to this theory
Wow, I think it’s a fantastic idea.
So many Nigerian students have given up on anything scholarship or relief fund because they feel it’s not possible from the government
Hmmm, a lot of sense here!
The prolonged delay is palpable.
Hopefully, students struggling with payments can access this opportunity soon.
The words of this current government isn’t trustworthy
Still in expansion till date 😑
A lot of sense in this article
Most people have given up on anything regarding government scholarships because they feel it’s not possible
It’s not about first of all providing the loan. Because in the US they also look give students loan. And since it’s a loan that means they pay back. Even over there people take years to completely pay back the loan, and that’s an advanced nation.
So the real question should be
Just as this loan scheme is being provided, when these students are out of school, will they provide Jobs immediately their Nysc to make it possible for the loans to be paid back?
The government hmm . I don’t think they are ready to help the masses
The government “Promises” always have a hinge of dissatisfaction delays or unfulfillment I mean that’s why it’s a manifestos and as a Nigerian I don’t think we should put all of our egg into a basket , we just have to trust God instead and look for other Funding opportunities like CRF.
Hmm we should invest in our Education and throw out more scholarship opportunities
Let’s hope for the best and keep a positive attitude 😇
I think the government should just do something positive about the SLF because it will go a long way in helping students.
Isn’t it better for the government to help reduce the cost of fees paid by students in federal universities than giving out loans that we might eventually not get.
God help us!
This student loan initiation has to be ready for disbursements as some us have done writing their final papers in order to allow them settle school fees debts.
Thank you.
Alot of young Nigerian students are aspiring to go to higher institutions but lack of founds hold them back
I think the government should do this past before most of them loses hope
The government’s promises concerning student loan forgiveness and relief have sparked considerable debate. Many borrowers feel frustrated by the ongoing delays and uncertainty, as these promises can greatly affect their financial planning and stability. While some initiatives aim to ease the burden of student debt, their slow implementation has led to skepticism about whether these commitments will actually be fulfilled. Clear communication and prompt action are crucial for rebuilding trust and supporting those impacted by student loans.
Hmmm…this is really sad. This country and our government are full of surface promises
Regardless of the plans and words, once a positive mind is involved, will be achievable but if not, nothing will work
The government should have provided grants instead of the loans.
Grants will be more encouraging to students, knowing that the money will not be refunded.