With the introduction of the student loan policy, these are issues bound to surface.

Tuition fee will definitely increase, at least additional 100k to whatever is been paid now as School fees.

For an average of a four year course program, the student conservatively pays 400k for the four sessions from the loan money assuming feeding, accommodation, study materials are kept constant.

For an indigent student, can he be really able to convince a senior servant to stand as his surety, when the senior servant already knows his family background as poor. It's a big risk to take unbehalf of that chap, to which many in that senior level category wouldn't want to take. Again knowing that there are no jobs in this nation, it will take an act of God to convince people to stand for you as a surety.

The repayment challenge is a big one considering the high level of unemployment in this nation at 33%.

The truth is that many students will drop out from tertiary institution thereby making education far above the reach of the common man.

Anyway let the implementation start by September next session, let's see how it goes. May it not be a case of penny wise pounds foolish

As expected, David Hundeyin took his time to critically analyse the loan conditions and it appears we're talking so much about something that may never be.

On the bright side, stopping the funding of universities may just be what Nigeria needs to start shedding her humongous debt load.

There is currently too much emphasis and bias on the paper certificate against other sectors that are actually what we need more in the country. I'm talking of vocational learning centres that come across way cheaper and provide more services in comparison.

DesChyko:
As expected, David Hundeyin took his time to critically analyse the loan conditions and it appears we're talking so much about something that may never be.

On the bright side, stopping the funding of universities may just be what Nigeria needs to start shedding her humongous debt load.

There is currently too much emphasis and bias on the paper certificate against other sectors that are actually what we need more in the country. I'm talking of vocational learning centres that come across way cheaper and provide more services in comparison.

Implementation won't be an easy ride

DesChyko:
As expected, David Hundeyin took his time to critically analyse the loan conditions and it appears we're talking so much about something that may never be.

On the bright side, stopping the funding of universities may just be what Nigeria needs to start shedding her humongous debt load.

There is currently too much emphasis and bias on the paper certificate against other sectors that are actually what we need more in the country. I'm talking of vocational learning centres that come across way cheaper and provide more services in comparison.

So you want the government to cut on the funding of versities to pay off thrillions of Nairas of loans that couldn't amount for what they were procued for?
Why couldn't they cut on their salaries instead.
Even at the moment, some students are finding it hard to keep up on school expenses. Now just imagine what would really happen if we are to follow that narrative.

9182736455O1999:

So you want the government to cut on the funding of versities to pay off thrillions of Nairas of loans that couldn't amount for what they were procued for?
Why couldn't they cut on their salaries instead.
Even at the moment, some students are finding it hard to keep up on school expenses. Now just imagine what would really happen if we are to follow that narrative.

The cost of governance in Nigeria is expensive and any sensible thing that can be done to cut costs is very much welcome.

DesChyko:


The cost of governance in Nigeria is expensive and any sensible thing that can be done to cut costs is very much welcome.

They shouldn't be cutting costs from the poor. There are several other ways to cut costs.