Don't*allow*the*type*of*HAJIYA*SADIYA*FAROUQ*heads*this*program. that*woman*is*an*animal.

ybalogs:
Hahaha...

1. You create a government bank.

2. You give the bank government money

3. They loan the money to indigent students without interest or collateral.

So

- who will pay salaries and overhead for the bank?

- Who will fund loan recovery?

We have been this road before

Instead of asking questions to no one, why not pick up the Act and read?

The Bank will always be funded by revenue from various federal income streams which are stipulated in the Act.

Regardless of repayment - the bank will always recieve money from the fg.

tiswell:
Nonsense,
Nigeria is not yet ripe for such laws,as they would soon bastardize the whole process with corruption

So what are we ripe for?
So government should not do anything again because we are not "ripe"?

What do you think he should have done

SmartyPants:
Who wrote this? The law is clear on who will regulate...there shall be a Nigerian Education Bank for that purpose.

,Bank regulator bawo? CBN is the only regulator of all banks except blood banks in Nigeria sir.

No Be Small Thing ooooo

FreeStuffsNG:


https://saharareporters.com/2023/06/13/student-loan-law-not-yet-uhuru-what-do-next-sunkanmi-vaughan

. This students loan gibberish is just another media frenzy.
A government that can't pay lecturers is promising you students loans and you are rejoicing.
It's not about making laws. It's about the process.

FreeStuffsNG:
,Bank regulator bawo? CBN is the only regulator of all banks except blood banks in Nigeria sir.

What does that have to do with what I posted? I said the fund will be regulated by a Nigerian Education Bank (not sure the exact name) but its functions are set out in the Act.

SpecialAdviser:

Don't mind them. Most Nigerians are myopic and will always be taken for a ride. Any small news gives them fake hope

big fake hope. There is see finished from our politicians to citizens. They knew 78% are daft and always see everything as good things even if it is not due to their own greediness.

Let's be logical for once.
What's the point of giving students loan when there is no job available to hasten payment thereby increasing your interest rate for nothing.

So why not give the loans to Youth coppers who are already ready for life.
This will help them with small startups and skills acquisition and will help reduce unemployment.

Then when the country is stable and there is job, we can now come back to student loan.
The question is: do a student need a loan or a job right now??

What Nigeria needs is student jobs and more opportunities for internships

Press Release issued in 1980 by the defunct NIGERIAN STUDENTS LOAN BOARD containing the particulars of defaulters who gave false addresses and non existent guarantors to the Board when they were students for the purpose of obtaining loan.

The people on the list are today's grandfathers/mothers. Awon agba YAHOO!

FreeStuffsNG:


https://saharareporters.com/2023/06/13/student-loan-law-not-yet-uhuru-what-do-next-sunkanmi-vaughan

There's so much abject ignorance in this post. For someone who has been an apologist for different govts, it's shocking to see you lack basic understanding of how govt agencies work. When has education ever been in the exclusive list to start with?
And what exactly do you mean by service provider and regulator in the context of a govt service?
You should do proper research and be properly educated before putting hands to keyboard

Since 9pm yesterday PHCN has not interupted power. looks like Tinubu's government will favour us

AntiChristian:
Abeg first remove that 5% interest you are adding!

Na that one you use spoil everything!

AntiChristian:
Adding interest mean Muslims are marginalised as that is forbidden in Islam!
Let the FG finance it wholly and jettison interest!

Privates are optional and for profit so they need an incentive to bring in their funds as alternative for students who do not fulfil some conditions like your parents annual income must be be less than N500k

Collecting student loan to school in a country where there is a very high rate of unemployment, is suicidal. How do you plan to pay back the loan?

Gone r the days Africans enjoyed quality cheap education at the expense of his/her teachers welfare. Hopefully, teaching at Primary, Secondary & Tertiary level becomes lucrative & worthy where people no longer have to wait until they get to heaven for their efforts to reward them.

Kukutenla:

There's so much abject ignorance in this post. For someone who has been an apologist for different govts, it's shocking to see you lack basic understanding of how govt agencies work. When has education ever been in the exclusive list to start with?
And what exactly do you mean by service provider and regulator in the context of a govt service?
You should do proper research and be properly educated before putting hands to keyboard

Insult as usual.smh.

Tertiary education has always been exclusive to Federal Govt and then later extended to state govts.

You are probably too young to know that at some point in Nigeria, only federal and state govts can own and operate tertiary institutions especially universities. Even in the early 80s, state govts took over private schools to run them exclusively. A lot has changed today so the Student loan should not take us back to exclusivity by FG.

Adding interest mean Muslims are marginalised as that is forbidden in Islam!
Let the FG finance it wholly and jettison interest!

FreeStuffsNG:

Privates are for profit so they need an incentive to bring in their funds as alternative for students who do not fulfil some conditions like your parents annual income must be be less than N500k

Why spoil it with Bihari.

dondodo:
Obi is coming

Yes oo Obi is coming to apply for student loans

FreeStuffsNG:


https://saharareporters.com/2023/06/13/student-loan-law-not-yet-uhuru-what-do-next-sunkanmi-vaughan

this one want to give governors and LGA Chairman more ways to loot

Can't this loan be accessible for Corps Members too......
It will help our economy as well.

FreeStuffsNG:
President Bola Ahmed Tinubu has led the way but....
Gracias to the great myn44, nlfpmod too for your great work for Nigerian students.

This one, wetin concern Myd44 with Nigerian students?? Aßs licker

Good initiative from the government!

However, what plans are in place to recover the money lent to the students upon graduation?!!

Will there be jobs waiting for graduates to enable them pay back this loan?!!

What about accountability?!! What happens when those who never benefited from the loan package are added as beneficiaries and compelled to pay back what they never borrowed?!!

MAYOWAAK:
Press Release issued in 1980 by the defunct NIGERIAN STUDENTS LOAN BOARD containing the particulars of defaulters who gave false addresses and non existent guarantors to the Board when they were students for the purpose of obtaining loan.

The people on the list are today's grandfathers/mothers. Awon agba YAHOO!

chai. Fraud has been existing in nigeria since time immemorial. Social media is just amplifying it.

I stopped here:

“The nation needs a competent patriotic Nigerian with the integrity of former President Muhammadu Buhari who headed the Petroleum Trust Fund( PTF) used as intervention funds for tertiary institutions in the mid 90s.”

When you are already in 800k student loan gbese then a lecturer says "Check my record my friend, nobody get an A in my class"

FreeStuffsNG:
Insult as usual.smh.

Tertiary education has always been exclusive to Federal Govt and then later extended to state govts.

You are probably too young to know that at some point in Nigeria, only federal and state govts can own and operate tertiary institutions especially universities. Even in the early 80s, state govts amtook over private schools to run them exclusively. A lot has changed today so the Student loan should not take us back to exclusivity by FG.

It's not true. Tertiary education has never been exclusive to the FG. Give the time it was. OAU, UNN and ABU were created by regional govts and taken over by FG when regions were abolished.

That only federal and state owned tertiary institutions before does not mean education was on exclusive list. It's obvious you don't understand what exclusive list is about.
However, there was no point at which only govts could own and operate tertiary institutions. The facts are that strikes were alien to our tertiary institutions then and they were relatively cheap and of good quality which made the need for private ownerships unattractive. But even at that, as at 1979, we had more than six private tertiary institutions in Nigeria which were all abolished in 1984 by the Buhari regime.
That's why I said you failed to conduct proper research on the subject before writing.

And that's just one part, the other part about regulator and service provider is total hogwash. To start with, a govt agency can't regulate another govt agency. Instead, the ministry in charge of the sector will supervise with oversight by the NASS. That is already provided for in the Act.

Instead of giving students loan to graduate and start looking for jobs in a country where there is none, why not give the money to people or corpers to start business?

Kukutenla:

It's not true. Tertiary education has never been exclusive to the FG. Give the time it was. OAU, UNN and ABU were created by regional govts and taken over by FG when regions were abolished.

Now I can rest @ the bolded. Btw, FG took over University of Ife, Ile Ife and not Obafemi Awolowo University (OAU), Ile Ife sir.smh
Thank you for the time and insults. Do have a great day sir. O ji shaaro.

AntiChristian:
Adding interest mean Muslims are marginalised as that is forbidden in Islam!
Let the FG finance it wholly and jettison interest!

You're full of crap. SLS was MD of first bank. Maybe he's not a good Muslim. Millions of Muslims borrow monies from commercial banks and pay interests.
I'm not surprised sha. Nothing smart can come out of such a cursed moniker