Hamachi:

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

That's when you take student loan to study funny courses like Bsc in Lesbian dance theory.

Excellent.
Every serious country has student loan system.

Wait for corrupt leaders to corrupt the process involve in this. This we not work. Nigeria it too corrupt for this to stand the test of time

LagosFirstSon:
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.

You are extremely bitter and you don't deserve to be referred to as Human, your comment shows your hatred towards your fellow, I know your type is from east who sees nothing good even if you were put in the garden of Eden...

LagosFirstSon:
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.

You will later hide your face in shame👌👌

Tinubu has hit the ground running since may 29th

Nice one

LagosFirstSon:
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.

tbh, you’re very daft

LagosFirstSon:
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.

e be like say you like suffer well well o, make suffer no go kill you o

olaniyilukman:
You are extremely bitter and you don't deserve to be referred to as Human, your comment shows your hatred towards your fellow, I know your type is from east who sees nothing good even if you were put in the garden of Eden...

You are right. He is an Ibo boy that goes by the name Barron of Lagos, prince of Lagos, e.t.c

Bad belle

LagosFirstSon:
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.

LagosFirstSon:
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.

I'm not surprised... You don't have someone like him

TakeNigeriaBack:
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.

Do you actually know you can make intelligent point without sounding foolish? If PO is a failure per his pedigree in and out of government; compare yourself with him.

Children of hate and perdition are still pained
While the country is forging ahead
they are still nursing pain of last election.
Wertin concern us.....
Batman no send una Papa
Anything to move the country forward, is welcomed....
HATERS can as well feel free to use the nearest available lagoon.

Only for payment of tuition fee and of course 70% of student who need it will not be able to access it.


Nigerians like fooling around, we all know this thing will flop and lead to more corruption, especially as there's no sincerity of purpose, just the usual political gra gra.

Bụbu promise us more and nothing came out of it

Where are the details?

Signing it is one thing, implementing it is another. My expectations are still low. But I pray things can be ameliorated.

Zionmdde:
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?

by time you submit your NIN and BVN, make i hear say you no pay am back.

Great0ne1:
Peter Obituary Obi was defeated fair and square. But his Ebow pride would not allow him to accept defeat to a Yoruba man. Peter Obi is a fool and a dullard who will NEVER become Nigeria's president.

Great point!

(quote author=Hamachi post=123751378]
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[/quote]

Have you read through the act to conclude with this length write ups??

Mindlog:


When reality stares at you but you choose denial.

CBN gave out loans to farmers under anchor borrowing scheme despite documentations, groupings, guarantees from traditional rulers....how many percent paid back the loan?

Go and check the repayment percentage of Bank of Industry and other government funding interventions......I will be observing from Cambridge while I sip my tea.😂😂😂

U could even be observing from 10 Downing Street, nobody gives a fvck where u are or the dóg piss u are sipping.
The anchor borrowers program under Buhari, how much got to the farmers?
Can u tell me?
A program that the commissioners, the corporative societies splitted all the funds and peanuts got to famers, u expect the farmers to pay back?
If u are the farmer, will u pay back?
Seems the Cambridge u say u live, nothing ever faiIs there, everything they plan is successful and whatever they do that faiIs they doñ't try other ones again.

The fact of this is that, like the fuel subsidy, this loan is going to be embezzled by corrupt politicians and civil servants

Jokerman:
This means that school fees will be increased, thereby the schools will be able to run activities, programmes and payment of salaries effectively.

I also suspect increase in tuition fees

After school no job how they gonna pay back

Hamachi:

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

Ah our friend the fake Ugandan.

For your info:

1. The repayment will only start running two years after NYSC

2. The repayment amount is fixed at 10% of your monthly earnings.

Your write up does not apply.

LagosFirstSon:
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.

princeoflagos is that Ur handwriting? Werey don give up, Tinubu will end u

Hamachi:

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

Guess you skipped the fact that these are interest free loans?

TakeNigeriaBack:


Great point!

It should be TakeYourSenseBack not TakeNigeriaBack . You need sense first, before you TakeNigeriaBack . Idiat

Thank you the Jagaban of Africa Bola Tinubu and the sponsor 🙏 of the act Gbajabiamila .The act is going into free educational systems at all levels .
But this system of free education at all levels should go into South Koreans Systems of education at all levels which is 85% intake in Science and technology and 15% intake in Korean Art and Culture __1945 after the 2nd World War. 🌎
See what country Korea is today _ The largest Ocean going Vehicle producer in the World 🌎 today.

Mindlog:


When reality stares at you but you choose denial.

CBN gave out loans to farmers under anchor borrowing scheme despite documentations, groupings, guarantees from traditional rulers....how many percent paid back the loan?

Go and check the repayment percentage of Bank of Industry and other government funding interventions......I will be observing from Cambridge while I sip my tea.😂😂😂

For the farmers and others, their NIN and BVN were not taken and deductions made automatically.

FG is doing that with students and will soon extend it to farmers and business owners who take loans.

Moreso, there needs to be a credit score which is attached to your BVN, the more credits you take be it student credit, farmers credit, business credit, the lower your credit score, and govt will soon initiate means to deduct it from you automatically whenever you deposit into any account linked to your BVN.

A serious CBN governor appointed by Balablu will rectify these.