Applying for the Nigeria student loan is one of the worst things a student in college or aspiring for higher education should consider and here are some of our expert reasons.

The Bill Has No Good Intention

If you go through the bill, you will understand that the conditions are designed to punish college youths more. First of all your parents need to be earning not more than ₦40,000 per month which has totally disqualified lots of students.

And, to students that are still in the picture you need to have a good relationship with 2 civil servants that have been at least 12 years in service or you have a lawyer that has at least 10 years post-call experience. Please tell me how many families that earn this low have these kinds of relationships.

And the list goes on, but the most painful part of it is the repayment aspect, where you need to start making repayment 2 years after completing the mandatory one-year National Youth Service Corp (NYSC). And if you fail, will attract a fine of ₦500,000 or 2 years imprisonment or BOTH.

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