Student loan: NANS tasks Tinubu regarding Transparency

Transparency in the student loan scheme’s implementation has been advocated by the National Nigerian Students.

The nation’s top student body demanded that the Federal Government designate someone with unwavering honesty and skill to supervise loan disbursement.

According to NANS, doing this would assure the scheme’s sustainability as well as its success.

The call was made by Pedro Obi, the National President of NANS, in a statement that was provided to reporters on Friday in Abeokuta.

He emphasized that in order to safeguard the rights and future of the students studying overseas, the federal government must act swiftly and forcefully.

The statement read, “To ensure the success and integrity of the student loan scheme, we urge the Federal government to prioritise transparency and accountability in the disbursement of the loans and this must be done by engaging all relevant stakeholders.

“It is crucial that the government appoint individuals of unquestionable integrity and competence to oversee the disbursement of student loans. These appointees should be drawn from diverse backgrounds, including academia, finance, and civil society, to ensure a balanced and fair administration.

“We also urge the government to put in place transparent and effective monitoring mechanisms to track the disbursement process and ensure that funds are allocated appropriately. This includes regular audits, public reporting, and feedback channels for students to report any issues or irregularities.”

NANS praised President Bola Tinubu’s administration for launching the student loan program and urged the government to involve all pertinent parties in the program’s execution.

The student body claims that if the loan is properly executed, it has the potential to stop the large-scale departure of Nigerian students studying abroad while also relieving many students and their families of financial pressures.

“The loan scheme should be designed to be inclusive and accessible to all eligible students, regardless of their socio-economic background. Criteria for loan eligibility and repayment terms should be clearly defined and communicated to avoid any ambiguity or discrimination.

“We believe that with careful planning and execution, the student loan scheme will not only enhance educational opportunities but also contribute significantly to the socio-economic development of Nigeria.

“We extend our full support to the Federal government in this endeavour and look forward to seeing the positive impact of this initiative on our nation’s students and educational system.”

In addition, Obi demanded immediate action over the reported deportation of Nigerian students from Teesside University in the UK who had neglected to pay their tuition.

The Access to Higher Education Act, 2023 was signed into law by Tinubu on June 12, 2023, allowing impoverished students to get interest-free loans for their academic endeavors at any Nigerian postsecondary institution.