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Steps For Nigerian Students To Access Loan Scheme - Education (3) - Nairaland

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Re: Steps For Nigerian Students To Access Loan Scheme by Throwback: 10:07pm On Jun 12, 2023
akingangan:
The Guarantor requirement should be removed

Government should be the guarantor so no need for such
If the employer will deduct 10 percent then there is no need

I agree.

No need for any guarantor.

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by justli: 10:09pm On Jun 12, 2023
Tolumiide:
I didn't vote for PBAT, but he is doing better than the president that spent his first six months traveling around the world.

True that
Re: Steps For Nigerian Students To Access Loan Scheme by WantsandMore: 10:13pm On Jun 12, 2023
wunmi590:
cool

Good development, I see student affairs only approving their family and friends application to move to final stage where it will be disbursed...
It's a loan not a grants. Anybody wey do busybody for loan, na him sabi...
Re: Steps For Nigerian Students To Access Loan Scheme by edungene7: 10:13pm On Jun 12, 2023
Finally the Yoruba ronu gang would have something to benefit from same way the sai baba gang benefited from the fertilizer subsidy in the North Itz going to be a southwest student loan program

1 Like 1 Share

Re: Steps For Nigerian Students To Access Loan Scheme by OlaHolla: 10:15pm On Jun 12, 2023
Public Uni school fees might quadruple like this...
Re: Steps For Nigerian Students To Access Loan Scheme by Freethinker87: 10:17pm On Jun 12, 2023
This is not how a student loan program is run, rather it appears to be a government racket. Like all things Tinubu, there must be enough loopholes to create a market economy for bribery and corruption. Requiring a civil servant guarantor for student loan applications goes against international norms, where applicants are typically evaluated based on academic qualifications and financial need, not on the backing of a civil servant. Other countries have successfully streamlined their student loan processes, ensuring accessibility for deserving students.

Typically, students with the necessary academic qualifications apply directly through banks, but Tinubu wants students to apply through some ministry while also needing the service of a civil servant to guarantee their application. Nowhere in the world is the application for student loans backed by a civil servant or a judge. Why a judge? Is Tinubu trying to bribe the PEPT judges through this scheme? This stringent requirement raises questions about the government's motives.

Can you all see what I am seeing?

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by Pipefitter: 10:20pm On Jun 12, 2023
Lol... I wish prospective applicants success on getting guarantors.. 😂😂😂 the condition listed is nothing different from trying to secure loan from bank.... I get level 12 civil servant willing to guarantee me, why the person no kukuma give me the loan

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by Kay25(m): 10:23pm On Jun 12, 2023
What a way forward...good one gbaja and bat
Re: Steps For Nigerian Students To Access Loan Scheme by 234daniel2010(m): 10:24pm On Jun 12, 2023
Student loan is just to pay school fees, some of you are thinking that Federal gvt will just transfer 20,000,000 to your account as Students loan lol, far from that. It's basically for does having issues meeting their school fees or maybe school hostel fees.

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by emorse(m): 10:24pm On Jun 12, 2023
OlaHolla:
Public Uni school fees might quadruple like this...
As in ehn
Re: Steps For Nigerian Students To Access Loan Scheme by LOVEGINO(m): 10:26pm On Jun 12, 2023
Tolumiide:
I didn't vote for PBAT, but he is doing better than the president that spent his first six months traveling around the world.
abeg encourage obidients lets make Nigeria great again.
Re: Steps For Nigerian Students To Access Loan Scheme by olabolaji(m): 10:26pm On Jun 12, 2023
Where I wan see 2 guarantors lipsrsealed
Re: Steps For Nigerian Students To Access Loan Scheme by wallrichy: 10:32pm On Jun 12, 2023
Hey, you shocked me like everything dey shock Buhari.....





slawomir:
Damnnn niggar
Hmmmm

I be dey reason say no student go pay the loan back

But as I see the conditions to apply he sure say them nor born the students well make he or she nor pay back


I shock you abi
Re: Steps For Nigerian Students To Access Loan Scheme by AutoManual: 10:32pm On Jun 12, 2023
Another scheme.
Re: Steps For Nigerian Students To Access Loan Scheme by Goalnaldo(m): 10:33pm On Jun 12, 2023
Some people will gather the loan money and use it to japa leaving their guarantors to carry the cross.

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by kingdapson: 10:36pm On Jun 12, 2023
nlfpmod:


https://thenationonlineng.net/quick-steps-for-nigerian-students-to-access-loan-scheme/
This is a very good initiative by PBAT. It will help many students to sort their fees and focus on their studies.
My only concern is the massive number of students ( those can pay their fees and those who can't) who will take Theo loan and in the long-run drain the nations limited resources.
Re: Steps For Nigerian Students To Access Loan Scheme by wallrichy: 10:37pm On Jun 12, 2023
Prospective students wouldn't be given cash or even sight the cash....it's direct payment to the educational institution from the applicant bank after all due diligence must have been fulfilled No free money as compare to Baba Cows Buhari and Unprofessor Osinbajo Market money, trading money, chop chop money etc......





.
234daniel2010:
Student loan is just to pay school fees, some of you are thinking that Federal gvt will just transfer 20,000,000 to your account as Students loan lol, far from that. It's basically for does having issues meeting their school fees or maybe school hostel fees.

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by mike272(m): 10:38pm On Jun 12, 2023
Re: Steps For Nigerian Students To Access Loan Scheme by xjiggy: 10:44pm On Jun 12, 2023
akingangan:
The Guarantor requirement should be removed

Government should be the guarantor so no need for such
If the employer will deduct 10 percent then there is no need
what if the student Japa after NYSC? Who will repay?
Re: Steps For Nigerian Students To Access Loan Scheme by wildernessVoice: 10:51pm On Jun 12, 2023
Scholarship/Bursary better pass this loan

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by Manolo3107: 10:57pm On Jun 12, 2023
Deriya:
Please if anybody can help me with any little amount to eat I will be very happy. Feeding is a big problem for me and my family please no matter how small. I havent eaten anything since yesterday in the morning pls. My dad is a retired teacher and my mom is late. Am a single mother with my own son mouth to feed, the little money i make have use it to cater for my dad illness and pay house rent but his health is getting worst. Now we can't even eat or buy water to drink. Please if you're reading this message pls come to our aid, no matter how small it will go a long way pls. May God meet you at the point of your need as you have show us mercy amen

Acct num:
318747
8996
FaithS.H
First Bank

Come how many account you get FOR NL?
Re: Steps For Nigerian Students To Access Loan Scheme by usibengate(m): 10:59pm On Jun 12, 2023
princeade86:
Good. So how is it be of help to commoners? Like someone mama selling petty things, where will d person get level 12 workers to process the loan. At the end, it will favor rich people as well. Business for the lecturers or anyone in the institution that will approve or sign for u to access the loan because they may demand from u.


Did you read through the 3rd clause on how to apply for the loan?

"Each guarantor must submit two passport photographs, name of the employer and evidence of being so employed by the named organisation."

I believe every informed and knowledgeable potential guarantor (lecturer) will not want to get involve, with regard to standing as guarantor for someone he/she doesn't know better. Remember payback is not immediate, 2 years after NYSC. You as a lecturer after collecting sorting to stand for a defiant students, upon graduating from the school, the lecturer is at the mercy of the students. Hence, he/she will have to provide the student else will pay the loan as guarantor.

So be careful who you stand for, we Nigerians are not trust worthy and have fraudulent tendencies.

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by MightySparrow: 11:01pm On Jun 12, 2023
slawomir:
Damnnn niggar
Hmmmm

I be dey reason say no student go pay the loan back

But as I see the conditions to apply he sure say them nor born the students well make he or she nor pay back


I shock you abi
.
I fear northerners
Re: Steps For Nigerian Students To Access Loan Scheme by Topmaike007(m): 11:03pm On Jun 12, 2023
Sunshine34:
Palmpay and Opay defaulters are u there, some section of the country too enjoy developing another country, it is well Sha, Obidient too should not go near the loan, otherwise we will invoke obatala on u people, because u cannot eat where you didn't sow.



FTC for the first time. Abeg send my gift Mr SEUN
so Obedient are not Nigerians ABI ? You are high on Colos
Re: Steps For Nigerian Students To Access Loan Scheme by Sammy5413(m): 11:05pm On Jun 12, 2023
Wait! Did I see guilty of exam malpractice?
Mehn this people never ready to give any student loan

2 Likes

Re: Steps For Nigerian Students To Access Loan Scheme by olaztek(m): 11:19pm On Jun 12, 2023
The govt must secure jobs for the unemployed graduates in order for them to repay the loan.

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by Bobby125: 11:27pm On Jun 12, 2023
grin
Tolu181:
Failure to pay back, you shall be recruited to army, where you will be served raw cassava and infested corn
Re: Steps For Nigerian Students To Access Loan Scheme by InvertedHammer: 11:28pm On Jun 12, 2023
/
I hope they have done extensive research in liaison with some loan companies (the ubiquitous loan Apps) on how good Nigerians are at repaying loans. They better have a system in place for mandatory collection from defaulters.

/

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by Nobody: 11:34pm On Jun 12, 2023
nlfpmod:


https://thenationonlineng.net/quick-steps-for-nigerian-students-to-access-loan-scheme/

"3. Applicant must provide at least two guarantors.

4. Each of the guarantors must be a civil servant of not less than level 12 years in service, or a lawyer with at least 10 years post-call experience; of a judicial office of a justice of peace."

These type of conditions, na bail terms for prison?

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by pinkasso: 11:42pm On Jun 12, 2023
This country eeh...is this how students loan work?, See conditions ,this is just a trap, will the interest not be compounding?..this is just a loan at 10% with a repayment period starting in year six or seven, when ASUU dey on strike your loans will possibly be compounding at 10% per annum.
It should designed like how students seek for forex when going to study abroad, you shouldn't need any guarantee and no repayment until you start earning a certain level of income.
To me this is a glorified loan 🦈.
What do I know?

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by MeineMutter: 12:22am On Jun 13, 2023
They still need to amend and fine-tune the law. It’s workability is not 100% ok, especially on:
The guarantor;
The verifiers;
The repayment plan.

How can you be deducting from the guarantor? Will the student be paying the guarantor too every month?

Are we sure graduates will get job after 2 years?

What’s the maximum number of years you have to pay back the loan?

For doctors, it is easy for them to get job and start paying back. What of those that study BAM BAM courses? And all those philosophy, psychology, inter-rel, languages etc?

Those are courses that don’t já employment on time unless you know the right lever(s) to pull.

I feel repayment has to be a direct debit from all accounts of the student linked to that loan by his or her NUBAN and NIN and also to his or her parents’ NUBAN and NIN (if he or she has any).

If a guarantor is a Level 12 officer, it means he or she cannot guarantee more than one student, even if he has more than one children or relative who want to access such loan.

Our verifiers are, by default, corrupt. They will exhibit this when verifying too and will exploit students (both materials and otherwise) and parents and abuse the system.

The education bank should be a Plc or a Ltd company. Otherwise, it will go moribund quickly because of mismanagement by government officials.

The system has to be automated and made easy for tracking of applications by applicants, transparently. We don’t want anybody to tell us he is working on our file and meanwhile he is not.

Applicants should be able to know and get notifications on what other info or documents or clarifications are required from applicants.

In short, they should make it less of human contact to reduce corruption.

They should not disburse cash to students and expect the student to pay the cash back as tuition again. Instead, it should just be automatic payment of tuition fees from the bank to the institution.

There should be a harmonized portal where the bank can check transcript and academic performance or status of student to know which one has been expelled or rusticated or which one has dropped out of school so as not to keep paying money to the institution in a wasteful manner.

I am afraid; those in charge of the student loan at banks and schools could turn it to political affairs or tribal things or religious matters.

We have a lot to get right here before deploying it.

May be we need to go and study how advanced countries did their own and then adapt it to our own local situations.

1 Like

Re: Steps For Nigerian Students To Access Loan Scheme by SavageResponse(m): 12:53am On Jun 13, 2023
pinkasso:
This country eeh...is this how students loan work?, See conditions ,this is just a trap, will the interest not be compounding?..this is just a loan at 10% with a repayment period starting in year six or seven, when ASUU dey on strike your loans will possibly be compounding at 10% per annum.
It should designed like how students seek for forex when going to study abroad, you shouldn't need any guarantee and no repayment until you start earning a certain level of income.
To me this is a glorified loan 🦈.
What do I know?

I can't believe what I just read!

Culturally Nigerians do not like to repay loans.

Do you expect the government to give unsecured loans without asking for guarantors?! shocked

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