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Nairaland Forum / Nairaland / General / Education / I Noticed Some People Are Ignorantly Happy About The Student Loan (1622 Views)
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Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by Validated: 10:34am On Jun 17, 2023 |
dealslip: Did you read the portion that pegs household income at N500k? If your family earns N500k, it means your family is on minimum wage or even below. How much tax do yu pay if your monthly income is N20833? You pay nothing because you earn below minimum wage. So how would such parent get TCC? Stop defending defenceless scam. That was how you all praised Buhari that he was a saint, see where it has landed the country now. 2 Likes |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by dealslip(f): 10:43am On Jun 17, 2023 |
Validated:Let me first warn you, never call me a Buharist again. I find it highly insulting. Secondly, A person can have a Nil Tax Clearance Certificate. Even as a business you get nil TCC for the first three years. 1 Like |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by 9182736455O1999(m): 10:55am On Jun 17, 2023 |
obawinner:This is not true. This won't even be up to 15 percent of the Nigerian student population. Thus signifying that only the rich or those on scholarship can afford to. People are not really against the loan initiative but rather concerned about the requirements needed to meet up to the loan. They could rather make efforts to elevate the poor. (Those who would need the loan to continue their education) or either make the loan requirement easier to meet for these same poor people because definitely those who can afford(The people who pay millions in foreign unis) won't be needing any loans. |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by obawinner(m): 11:13am On Jun 17, 2023 |
9182736455O1999:I agree with you on the requirement, You may agree we cant also take away education susidy to return subisdy, there needs to be a criteria, an assurance of you will pay this loan free investment back. i think those requirement was to ensure its sustanability, Nigerians culturally see anything loans as free gift, Im sure you have seen people lend money with the awareness not to return, but of course the student loan deprive but isnt too early to criticize when the actual purpose of the loan was to cater for this needs. 1 Like |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by Theomarvelus(m): 11:18am On Jun 17, 2023 |
AntiTerrorist:I know you have not seen the bill, stop fabricating lies |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by samuelson06(m): 11:34am On Jun 17, 2023 |
Maize247: It's not compulsory but accept that the whole praise and noise about the loan was nonsense. It's like all those fool!sh things a native doctor will ask you to bring in movies when they know you can't get those things. Tinubu knows very well that those that need the loan can't afford the conditions and those that can afford the conditions don't need the loan. Would I know a Director in the Civil service or a Judge and I can't afford to pay my school fees? Let's call a spade, a spade. |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by Dougad: 12:38pm On Jun 17, 2023 |
abhosts: Nigerians love celebrating mirages. They don't wait for the nonsense to progress or do critical analysis to find out if it'll succeed before they start celebrating. Bunch of mumus |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by Blitzking: 12:56pm On Jun 17, 2023 |
My view about student loan In a country like Nigeria where 95 percent of the time the likelihood of getting a good job is man know man..if you are connected the likelihood of being able to foot your schooling bills would be very high so u won't be needing a student loan. Those student needing student loans would be educated but the likelihood of getting a good job would be almost impossible. Cos they most likely know nobody. So they are shortchanged at two levels 1. No job..2 they are heavily in debt. The main target of this student loans are those who govt have been hammering that they subsidised their education and they still leave with their training for greener pastures abroad forgetting the so called sacrifice of the govt. Since the plan legislation to curb migration viz a viz serving for a certain period of time before you are let go...they adopted the trojan horse approach |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by Omoawoke: 1:46pm On Jun 17, 2023 |
Bros, the loan is not compulsory. They are not forcing anyone to take it. We can rest 1 Like |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by Omoawoke: 1:47pm On Jun 17, 2023 |
samuelson06: Okay we accept its nonsense, are you fine now? 1 Like |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by Osashalom: 4:55pm On Jun 17, 2023 |
Who are those that are happy about the Student Loan? Some even said "Tinubu can continue, he is taking hard decisions". For that reason, someone had to break down the smokescreen called Student Loan. It's just an attempt to remove "Education Subsidy" without causing an uproar. Now let's dive in: Who qualifies for the Student Loan? The simple answer is: NO BODY. It's almost impossible for you to qualify for the Student Loan and here is why. 1. An applicant or his parents must provide tax clearance: This is not totally bad till you see number 2. 2. The Applicant or his parents must be earning total income less than #500k a year. Now slow down and do the maths. To earn #500k a year means that the husband and wife are earning less than #41,000 a month. That is #20,000 each. While minimum wage is #30,000. Which means if your both parents are earning, you are automatically disqualified because they are either earning more than #41,000 or they do not pay tax because you cannot pay tax on salary below minimum wage. 3. Now here is the high jump of the Act: These 2 people earning less than #50,000 will now have to provide a DIRECTOR IN CIVIL SERVICE and a LAWYER OF 10YEARS IN SERVICE as Guarantor. Take into consideration, yourself doing good for your self, do you know a DIRECTOR in the Civil Service? But that is not the worst part. 4. The Director and Lawyer has to surety that if you default, they will pay the loan. Do you know what that means, NO DIRECTOR WILL TAKE SUCH SURETY. But here is the worst part. 5. After you meet all these requirements, will you get the loan? NO! The Act said "Loan will be given when funds are available. In other terms, you are still at the mercy of the system" In summary: If you add your father and mother's income monthly, it must not be more than #41,000 a month or #500,000 a year. Your father and mother must look for a Director in Civil Service to Surety your loan. The Director will send his Payslip document to the Bank saying that if you fail to pay, he will pay. Who will do this one for you? Did I tell you that the Bank MD will be the one to give approval? Bank MD ! Did I also tell you that if you don't start repaying after 2years of graduation, you will go to jail 😩 Many graduates have not even gone to NYSC in 2years after graduation. The worst part now is: School Fees will go up above the loan amount because Federal Government has announced that they cannot continue to fund University. So if you are reading this, you are not qualified for the Loan. Edited: |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by workchopNG: 6:47pm On Jun 17, 2023 |
Maize247: It's not compulsory but here's the catch... Federal higher institutions don't pay tuition fees (its not in the school fees they pay). Now FG will introduce tuition fee, which is the only fee that the loan can cover. So in essence, a student that successfully gets the laon, will still pay the same amount other students are currently paying, while the unsuccessful ones will pay higher. 1 Like |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by Cromagnon: 11:58pm On Jun 17, 2023 |
Ruggedniggaone:must they go to school? |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by Cromagnon: 11:59pm On Jun 17, 2023 |
ivandragon:then no need to take the loan |
Re: I Noticed Some People Are Ignorantly Happy About The Student Loan by ivandragon: 2:18am On Jun 18, 2023 |
Cromagnon: Sure. After all every Nigerian can afford to easily pay over 350k per session on tuition fees for thier children. |
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