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Adeleke Warns FG Against Using Loans As Debt Trap For Students - Politics - Nairaland

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Adeleke Warns FG Against Using Loans As Debt Trap For Students by ijustdey: 6:44pm On Jul 09
Osun State Governor, Ademola Adeleke, has urged the Federal Government to ensure that beneficiaries of the student loan funds are not plunged into huge debts.

The governor gave the charge on Tuesday while hosting a delegation from the leadership and management of the Nigeria Education Loans Fund (NELFUND) at his office in Osogbo.

According to Adeleke, he is aware of the challenges that the student loan scheme caused citizens of the United States of America and warned that “debt trap must never be experienced in Nigeria’s students’ loan operations.”

This came as the scheme has been officially launched in the state.

The Managing Director of NELFUND, Akintunde Sawyer, said the loan scheme is for government-owned tertiary institutions alone, saying beneficiaries would pay back two years after completing their National Youth Service Corps (NYSC) and after they have secured employment.

NELFUND opened its application portal in the first phase of registration for student loans in May.

The first phase accepted applications from federal tertiary institutions.

About 1.2m students in 226 federal universities, polytechnics, colleges of education, and technical colleges were expected to benefit from the first phase.

Data obtained from the NUC and other agencies indicated that the nation has 226 federal tertiary institutions comprising 62 universities, 41 polytechnics, 96 monotechnics and 27 colleges of education.

Sawyerr in May disclosed that the Fund started receiving applications from state universities on June 25.

He requested all state institutions to submit their students’ data immediately in order to facilitate a smooth and seamless application process.

https://guardian.ng/adeleke-warns-fg-against-using-loans-as-debt-trap-for-students/

7 Likes

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by MrBrownJay1(m): 6:50pm On Jul 09
as if most people who will get these loan will use it to pay school fees etc...lol!

abeg just call the loan POVERTY ALLEVIATION SCHEME and be merry... in this economy, any money dashed will help the ones out there with financial difficulties. let some of the loot go to the people jare!

13 Likes 1 Share

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by Chimarto: 6:55pm On Jul 09
Can Master degree students benefit?
Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by Jostoman: 6:55pm On Jul 09
Vote buying don start for APC.

8 Likes 1 Share

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by sIfioksq: 6:57pm On Jul 09
Kudos to the FG for taking steps to provide affordable education through loans. Let's not forget that this is a longterm investment in our future leaders.

7 Likes

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by PheelzAlmighty: 7:10pm On Jul 09
Nothing this government can't do...

Student loan my ass

12 Likes

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by DMerciful(m): 7:10pm On Jul 09
Those loans will not be repaid. Was trader moni repaid?

9 Likes

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by Celtic1: 7:11pm On Jul 09
Fact
Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by Amigoss: 7:11pm On Jul 09
If you no study STEM courses,no go collect loan oo....You study Animal husbandry with future placement as a cow herder and you wan go collect loan from a notorious tax collector,Goodluck to you...

21 Likes

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by oluwaseyi0: 7:11pm On Jul 09
MrBrownJay1:
as if most people who will get these loan will use it to pay school fees etc...lol!

abeg just call the loan POVERTY ALLEVIATION SCHEME and be merry... in this economy, any money dashed will help the ones out there with financial difficulties. let some of the loot go to the people jare!


It will be mostly paid directly to the school

7 Likes

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by datola: 7:11pm On Jul 09
It would have been better if the student loan is for technical knowledge not after graduating from universities they will start begging to apply for N30k job.

University education is not compulsory to achieve your great dreams in life.

11 Likes 1 Share

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by Balistic4: 7:11pm On Jul 09
Calm down oga, no be naija again, same way they rigged the election, that's same way youths will collect that loan and find a way not to pay back. There's zero accountability in Nigeria

3 Likes

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by Melancho: 7:12pm On Jul 09
Americans from the 90s and 2000s are still owing student loans. That thing will trap you down.

1 Like

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by BABANGBALI: 7:12pm On Jul 09
Leemzyy if you like go and collect education loan upon that your poor academic performance

1 Like

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by raskymonojendor: 7:12pm On Jul 09
It can become a debt trap only if you mismanage it.

Jostoman:
Vote buying don start for APC.
Wasn't Peter Obi giving out money to a nursing school today? It's also vote buying.

73 Likes 1 Share

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by Hollyharjii: 7:12pm On Jul 09
Hmmm
Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by iLoveYouToo(m): 7:12pm On Jul 09
It’s better to be quiet when you really don’t have stuff to say

74 Likes 2 Shares

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by bassdow: 7:13pm On Jul 09
j
Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by raskymonojendor: 7:13pm On Jul 09
Melancho:
Americans from the 90s and 2000s are still owing student loans. That thing will trap you down.
Lol. It did not hold me down. It propelled me. I paid off my student loan in one year.

Take the loan, graduate with GOOD grades and get a job.

73 Likes 1 Share

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by Chinkoalhaji34: 7:13pm On Jul 09
FG should reconsider using loans as a means of entrapping students in debt, as warned by Adeleke.
Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by bassdow: 7:13pm On Jul 09
This is commonSense a lot of Nigerian simply don't have.

Also, FG could come up with the idea of checking if you owing them before issuing you passPorts. That one mean say if you wan JaPa, you must payUp
Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by Roboto11: 7:13pm On Jul 09
Melancho:
Americans from the 90s and 2000s are still owing student loans. That thing will trap you down.

Make dem no give them anything.

grin
Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by bassdow: 7:13pm On Jul 09
Roboto11:


Make dem no give them anything.

grin
Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by Michael547(m): 7:13pm On Jul 09
Ok
Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by iLoveYouToo(m): 7:14pm On Jul 09
Melancho:
Americans from the 90s and 2000s are still owing student loans. That thing will trap you down.

Has it killed them? Education is a must if you know what you’re doing at the ivory towers

7 Likes

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by ednut1(m): 7:14pm On Jul 09
In a country where less than 20% of graduates get job paying over 80k. Anyone taking those loans is a 🤡to me 😂

2 Likes 2 Shares

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by StaffofOrayan(m): 7:14pm On Jul 09
For a nation that is over a century behind so called developed nations, education should be as cheap as possible, it's funny only the great Awo recognized this simple fact!

5 Likes

Re: Adeleke Warns FG Against Using Loans As Debt Trap For Students by 1Alex: 7:14pm On Jul 09
MrBrownJay1:
as if most people who will get these loan will use it to pay school fees etc...lol!

abeg just call the loan POVERTY ALLEVIATION SCHEME and be merry... in this economy, any money dashed will help the ones out there with financial difficulties. let some of the loot go to the people jare!

no cash will be given to anyone. Go and read the provisions of the loan

6 Likes

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