greatiyk4u:
I noticed some people are happy about the Student Loan

Some even said "Tinubu can continue, he is taking hard decisions".

For that reason, I have decided to break down the smokescreen called Student Loan

It's just an attempt to remove "Education Subsidy" without causing an uproar.

Now let's dive in:

Who qualifies for the Student Loan:

The simple answer is: NOBODY.

It's almost impossible for you to qualify for the Student Loan and here is why

1. An applicants or his parents must provide tax clearance: This is not totally bad till you see number 2.

2. The Applicants or his parents must be earning total income less than #500k a year. Now slow down and so the maths

To earn #500k a year means that the husband and wife are earning less than #41,000 a month. That is #20,000 each

While minimum wage is #30,000

Which means if your both parents are earning, you are automatically disqualified because they are either earning more than #41,000 or they do not pay tax because you cannot pay tax on salary below minimum wage

3. Now here is the high jump of the Act: These 2 people earning less than #50,000 will now have to provide a DIRECTOR IN CIVIL SERVICE and a LAWYER OF 10YEARS IN SERVICE as Guarantor

Take into consideration, yourself doing good for your self, do you know DIRECTOR in Civil Service?

But that is not the worst part

4. The Director and Lawyer has to surety that if you default, they will pay the loan

Do you know what means, NO DIRECTOR WILL TAKE SUCH SURETY.

But here is the worst part

5. After you meet all these requirements, will you get the loan? NO!

The act said "Loan will be given when funds are available. In other terms, you are still at the mercy of the system"

In summary:

If you add your father and mother's income monthly, it must not be more than #41,000 a month or #500,000 a year

Your father and mother must look for a Director in Civil Service to Surety your loan

The Director will send his Payslip document to the Bank saying that if you fail to pay, he will pay. Who will do this one for you?

Did I tell you that the Bank MD will be the one to give approval? Bank MD !

Did I also tell you that if you don't start repaying after 2years of graduation, you will go to jail 😩

Many graduate have not even gone to NYSC in 2years after graduation

The worst part now is: School Fees will go up above the loan amount because Federal Government has announced that they cannot continue to fund University

So if you are reading this, you are not qualified for the Loan. ( SO PALM WINE TAPPERS CHILDREN, BRICKLAYER AND SO ON CHILDREN ARE NOT QUALIFIED FOR THE LOANS.

OneCandleAway:


Orphans, people with retired parents,

This education one doesn't make sense. If you block all corruption avenues you can still fund education. Education is very important for Africa.

greatiyk4u:



You understand the point here

OneCandleAway:


All those directors and lawyers will even charge to be your Guarantor if they agree in most cases.

Tallesty1:
There is a saying that banks won't give you a loan until you provide enough evidence that you don't need a loan. Students that will be able to get guarantors for the loans won't actually need the loan, and even if they do, they are disqualified. Those who really need it maybe not be able to get guarantors.

So Nigerians were receiving something for free, and then someone comes along and says it is no longer free; you will have to pay for it. However, I will offer you a loan so you can afford to pay for it and he is being celebrated.

marlow1962:
Na lie, tinubu is working
Dumb Nigerians, after jubilating for private owned refinery, now they are jubilating for upgraded bondage.

Good bless Jonathan anywhere he is, God bless him for refusing to rule people sheep's and cows are more easier to control. Na una clone president talk am.

But apc get mind o, clone a whole president.

greatiyk4u:


Well deserved fp post

helinues:
Oya, when would you write about the positive side of it, abi una wan dey see everything with negativity?

helinues:
Oya, when would you write about the positive side of it, abi una wan dey see everything with negativity?

VTJN:
A poor person do not have access to Director

greatiyk4u:


That's what you guys are paid 30k for not my responsibility

helinues:


We have done so but na only the negative side una dey see, not only this also other Tinubu's new policy

Opposition doesn't mean you should oppose everything

Tallesty1:
There is a saying that banks won't give you a loan until you provide enough evidence that you don't need a loan. Students that will be able to get guarantors for the loans won't actually need the loan, and even if they do, they are disqualified. Those who really need it maybe not be able to get guarantors.

So Nigerians were receiving something for free, and then someone comes along and says it is no longer free; you will have to pay for it. However, I will offer you a loan so you can afford to pay for it and he is being celebrated.

Streetdoctor:

U sounded like an economist or political analyst.
Poor masses are in for d real deal. When I checked d conditions attached to it, I found out that dis loan scheme is just nonsense, bcs where will a poor man see civil servant in level 12 to guarantee him/her?
Agbado never meant well for d poor masses and I won't be surprised 8n all his early stage dancing show