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Nairaland Forum / Nairaland / General / Politics / Details Of The Student Loan Bill Signed By President Tinubu (45639 Views)
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Details Of The Student Loan Bill Signed By President Tinubu by Estello: 6:29pm On Jun 12, 2023 |
President Bola Ahmed Tinubu (GCFR) a few minutes ago signed into law, The student loan bill, which provides for interest-free loans to indigent Nigerian students.https://twitter.com/DOlusegun/status/1668293482732036097?t=ylEiEIsF_YQdjtwoaCvwpw&s=19 101 Likes 17 Shares
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Re: Details Of The Student Loan Bill Signed By President Tinubu by LagosFirstSon: 6:32pm On Jun 12, 2023 |
Initial gragra as usual . Buhari did more than this at the begining of his first Time. But seriously, Bola Tinubu is too ugly , president no fit am. 150 Likes 29 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Estello: 6:32pm On Jun 12, 2023 |
Another campaign promise about to be fulfilled 133 Likes 17 Shares
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Re: Details Of The Student Loan Bill Signed By President Tinubu by Zionmdde: 6:51pm On Jun 12, 2023 |
Good move Just that the average Nigerian graduate hardly gets jobs nowadays And what mechanisms will be put in place to ensure there is no discrimination and that the government can get their money back? 86 Likes 8 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Jokerman(m): 6:53pm On Jun 12, 2023 |
This means that school fees will be increased, thereby the schools will be able to run activities, programmes and payment of salaries effectively. 42 Likes 12 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by waledeji(m): 6:55pm On Jun 12, 2023 |
LagosFirstSon:choke on it ![]() ![]() 278 Likes 30 Shares
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Re: Details Of The Student Loan Bill Signed By President Tinubu by Mindlog: 6:57pm On Jun 12, 2023 |
Zionmdde: Going by antecedent, repayment will be very low as Nigeria do not have the structures to make it sustainable. 43 Likes 5 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by TakeNigeriaBack: 7:00pm On Jun 12, 2023 |
Thank God I supported Jagaban. Imagine if I supported the failure Peter Obi Obituary, how will I explain to my descendants? Thank God for Bola Ahmed Tinubu the Jagaban and Asiwaju of the Universe. 156 Likes 16 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by BabaCommander: 7:00pm On Jun 12, 2023 |
This is no details at all na. 23 Likes 3 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Hamachi(f): 7:01pm On Jun 12, 2023 |
Student loans are a financial burden which does not quite make sense on a pure accounting basis. So, you have signed up for a loan (a liability, surrender of your future earnings) and you have nothing to show for it. On the other hand, when you take a loan on a house (a mortgage), you have a liability (a mortgage) and an asset (a house), so when things get tough, you can sell the asset to cover that liability. And in a worst case scenario, you simply file for bankruptcy and walk away from it - with a beaten up credit score, but you recover fully in about 7 years (in US, bankruptcy is removed within 7 years from the person's credit profile). Easy. Simple. Elegant. Now, we have a student loan. You take a loan and you spend money. You gain nothing tangible - no assets. You have an expectation of future earnings, but it's not a guarantee. However, once you are out of school, loan is due - regardless of whether or not you have means to pay for it, such as a job. Now, when things get very tough - let's say you need to pay rent and you need to eat and you would like to get a family - but the student loan is still there, and it's not going away. You can't discharge it in a simple bankruptcy. You can't make it go away in an easy way - it's a forever burden. Summary When we reach the point where politicians are running for office on a platform of, “free college for everyone,” you know that we have gone past the tipping point. “Free” college is just going to throw kerosene on this fire. We are seeing some cracks around the edges, e.g. coding bootcamps and startup apprenticeships like Praxis, but what is needed is a better educated consumer. PS I saw a question on career section this afternoon. “Should I go to school X or school Y? (Money is an object, but I might get some financial aid at school Y.)” School Y’s cost of attendance is more than twice that of school X. No thought of can I afford either one of these schools? No thought of preparing a financial analysis. We have a generation of irresponsible morons whose parents are mentally absent. That’s why we have a financial aid crisis. ![]() 💭Leadership is not about seeking personal glory, instead its about taking responsibility for the people you are in charge of. 🎯Some key takeaways: ✔️Responsible leaders take accountability for their actions. Instead of blaming others, they identify the problem and try to fix it. ✔️Therefore, to become responsible leaders professionals must remember to take accountability for actions and stop blaming others for their mistakes. ✔️One of the foremost qualities in a successful employee or leader is a willingness to accept Responsibility for one's actions and behavior, good or bad. ✔️Taking Responsibility means making decisions, taking action, setting high standards, learning from our mistakes and always doing what we say. ✔️Lastly, leadership is about setting an example. Let see his grandchildren, relatives & family members participate in these students loan 61 Likes 10 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by DesChyko: 7:01pm On Jun 12, 2023 |
Commendable. Students loan is a better alternative to subsidizing education to make slaves off graduates as the proposed 5-year practice seeks to do to Doctors (for a start). However, guaranteeing the loan will be paid back is another hydra-head to be tackled. A graduate without a job will not find it easy repaying their loan. And we have a lot of graduates that are struggling to make ends meet in the country today. Let's look at countries that have this in effect like America and how they're coping with theirs. Hopefully, we get it right. Modified: What was signed into law recently was actually existing before but never worked. See attached image. NB: If a thief steals your car, you do not because he attempts to maintain it, decide that he keeps it. 🤞 23 Likes 3 Shares
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Re: Details Of The Student Loan Bill Signed By President Tinubu by Tunasco4u(m): 7:01pm On Jun 12, 2023 |
Ok 1 Like |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Ekakamba: 7:01pm On Jun 12, 2023 |
Weldone Gbaja & the President. So the bill was sponsored since 2019, why Bubu no assent? There's a lot of room for improvement in other areas. 40 Likes 1 Share |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Throwback: 7:01pm On Jun 12, 2023 |
Good moves by the Tinubu administration. 15 Likes 2 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Throwback: 7:01pm On Jun 12, 2023 |
LagosFirstSon: Always negative and craving for failure. Suffer no dey tire you? 130 Likes 19 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by JealousCobra(m): 7:01pm On Jun 12, 2023 |
😎 Only few set of people understand the way Thiefñubu operates , and it is those around him. Monies he will soon take back through excessive taxations. It has already started from removal of fuel subsidy. 6 Likes 2 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Koboland(f): 7:02pm On Jun 12, 2023 |
Nice one 4 Likes |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Baolak(m): 7:02pm On Jun 12, 2023 |
Congratulations to all Nigerian students, i believe this is the beginning of greater things to come. 42 Likes 3 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by IamANigerianMan: 7:02pm On Jun 12, 2023 |
Wait and see how ministers,permanent secretaries, directors will manipulate. 3 Likes |
Re: Details Of The Student Loan Bill Signed By President Tinubu by JagabanBorgu: 7:02pm On Jun 12, 2023 |
Waiting patiently for critics 10 Likes 1 Share |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Ibile77(m): 7:02pm On Jun 12, 2023 |
Hmmmmmmm.it is well |
Re: Details Of The Student Loan Bill Signed By President Tinubu by TakeNigeriaBack: 7:02pm On Jun 12, 2023 |
LagosFirstSon: Interesting. 20 Likes 2 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Ismael97(m): 7:02pm On Jun 12, 2023 |
Someone should please help me with something to buy food and eat. Pls 3 Likes 2 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Ndleabilli: 7:02pm On Jun 12, 2023 |
Re: Details Of The Student Loan Bill Signed By President Tinubu by iammo(m): 7:02pm On Jun 12, 2023 |
![]() Progressives Awolowo did free Education, Tinubu would give us loaned funded tertiary Education . 21 Likes 2 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by spiritedtete: 7:03pm On Jun 12, 2023 |
he will be the best President since democracy.. He has the spirit of Awolowo... Spirit of MKO... the graceful destiny spirit of Tinubu himself. A big role model politically. Atlast someone who knows how to lead a nation... it is only kids born few years ago and adult that just got enlighten through Internet that will not know anything about BAT 38 Likes 4 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by KingOfTheDamned: 7:03pm On Jun 12, 2023 |
LagosFirstSon: Are you a graduate? This is a good one by the president, truly amazing one . 32 Likes 2 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by excomarow(m): 7:03pm On Jun 12, 2023 |
T |
Re: Details Of The Student Loan Bill Signed By President Tinubu by adecz: 7:03pm On Jun 12, 2023 |
![]() You can be sure that those loans will be given to Northerners free of charge, but will be denied students of SE extraction ...😐😐😐 One nijeriya❗️❗️ 2 Likes |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Abolodje: 7:03pm On Jun 12, 2023 |
Interesting. Na to use student loan bet on top game for sporty. 2 Likes |
Re: Details Of The Student Loan Bill Signed By President Tinubu by 4tomandchi: 7:03pm On Jun 12, 2023 |
So far in this short space President Tinubu has done more than Buhari did in eight years. If you don't agree go hug transfer 32 Likes 2 Shares |
Re: Details Of The Student Loan Bill Signed By President Tinubu by Mufasa27(m): 7:03pm On Jun 12, 2023 |
LagosFirstSon:Smh 7 Likes |
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