The Academic Staff Union of Universities (ASUU) and the Academic Staff Union of Polytechnics (ASUP) have opposed the recent signing of the Students’ Loan Bill by President Bola Tinubu.
Prof Emmanuel Osodeke, the national president of ASUU, described the loan bill as discriminatory between the children of the rich and the poor.
Osodeke explained that the bill would end up encumbering the children of the poor with debt after graduating.
He said:
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“This is discriminatory. If what I read online is correct, it said it is only for children whose parents earn at least N500,000 per annum. That means if your father earns more, you won’t benefit.”
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Earlier, Dele Alake, a presidential aide stated that the Student Loan Bill aimed at liberalizing funding of education and will also enable indigent students to access loans at interest-free rates.
Alake had said that the move was in sync with standard practice globally and would ease access to education.
He had said:
“This is how it’s done in other developed climes. So this is a boost to our youths and students nationwide.”
Dr Anderson Ezeibe, the national President of ASUP argued that the grace period may not be sufficient for students to secure employment.
Ezeibe said:
“I have not studied the bill and we don’t want to react on the surface. But I have seen one area that will not be practicable.
“It says that students should refund the money two years after NYSC. But what is the provision for someone who is not working after NYSC? And will they all get jobs immediately after NYSC?”
Also reacting was Adejuwon Emmanuel, the Coordinator of the National Association of Nigerian Students, Zone D.
Emmanuel criticized the repayment terms of the bill, stating that the ultimatum for repayment was not feasible.
He said:
“As we all know that there is no work anywhere and most graduates don’t get work immediately, how will they pay back? How will it work when most of our graduates do not get jobs? Is there any plan or opportunity for those that have no work two years after NYSC?”
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