₦airaland Forum

AjanleKoko: By 'most people', I assume you mean most Nigerians or most people that go to school in America? Since price is a major differentiator, that would definitely be the case, since most people obviously can't afford $100k plus.

By most people, I mean everyone, including Nigerians. And its not just the affordability...there are only so many $100k schools you can choose from.

Just out of curiosity though. How easy it is to work and study at the same time in the US? Can you work during the term/semester, or can you only work during the vacations? I'd have imagined that would be really hectic, and whatever you made would probably manage to cover living expenses. We're talking about tuition, and study expenses, I would imagine.

It is hard to study and work (homework is much more time consuming here), but its doable. The hourly wage is usually large enough that you dont have to work more than 20-30 hours a week to make ends meet as a student. Many work essentially full time during the breaks too, so you can usually save enough to scrape by...at most you would need a few loans, but definitely not 100k. Of course all this applies if you have papers to work, If you are the typical Nigerian student, you have a choice of looking for scarce on-campus jobs where you can only work 20 hours a week, or looking for an relative to cosign a private loan for you, or hope your parents know Alams, or one of those EFCC jailbirds lol.

How easy it is to secure these student loans? Can you get one solely on the basis of an admission letter? I'm just wondering how the business model of the loan providers work. Does immigration status play a role, i.e. would someone on a student visa be eligible for a loan after some time? The assumption in that particular case (student visa) is that the person is applying for the loan to either further their education after the initial course of study is done, or needs additional funding in the course of the program.

If you are the typical Nigerian student, on student visa, you do not qualify for low interest government loans based on residency, so you must get private loans. These are higher interest, and considering that international student tuition is more than double that of residents, its likely you will not have the credit to obtain one yourself. This is where you call your relative in the US, and ask them to cosign for you. You will probably also discover that the "aunty abroad" you have always looked up to, that sends you endless gifts does not have the credit to help you. Bottom line, if you are Nigerian without work papers, you will likely have to work illegally, or have your parents pony up the cash. If you are a grad student, things might be a little easier as you have a better chance of getting an assistantship - always verify the grad school you are going to is helpful in this regard, or you may be in for 3-5 years of hell.

Let's say I got admission to Harvard Law. Would that be bankable enough? Just like securing a supply contract with Shell in Nigeria would almost certainly guarantee financing by most banks, due to Shell's financial status and ability to pay contractors, I would imagine that a Harvard Law grad is almost certain to get lucrative job opportunities.

There are banks that offer loans based on getting into a good medical or law school, for sure. But these are regarded as predator loans - the interest rate is usually really high. Even with your almost guaranteed good paying job, you will still be paying this loan back for a while. Btw, Harvard is not what it once was in terms of job guarantee. There are numerous NYTIMES articles of depressed, underemployed ivy league lawyers.

I'm also surprised that the government is able to give out subsidized loans to students in the US. Do they have a Fannie Mae/Freddie Mac sort of vehicle set up strictly to do that?

This is one of the reasons Obama won a second term - he refused to kill the education subsidies so many students depend on. Of course if power changes hands, all bets are off and the subsidy could be a thing of the past. I dont remember the programs off head, but they are essentially in the same spirit as Fannie etc

I think the stats look okay,considering that there are supposedly around 20+ million college students in the US. Let's assume the number of Americans who have been to college in the last 20 years to be that figure, even. Then it would be reasonable to have 1.1m who have attended Ivy League schools over the last 2 decades, and owing over $100k in fees. That would be just 5% of the assumed total, which doesn't look so far off.

Exactly. The reason you are hearing more about it, is that the upper middle class, which was used to sending kids to the best schools and paying off the loans with a good job afterwards have been hit by the economy too. No jobs means you may have to help your kid pay off that debt - usually when bad things happen to the upper middle class, you hear about it a lot more. The rest of us welcome them to the new normal

nice find. Victor plays D like every Naija man I know... footwork and anticipation is very good That alone will keep him in the league. Giannis looks like a bust already ...I fear he may not be able to perform when playing more physical players

Here is what Fela though of Thatcher - you can see her picture on his album cover, on the far left.

Beast of no nation...egbekegbe na bad society...


https://www.youtube.com/watch?v=XSEs2SunXag

Katsumoto:

No where have I defended Thatcher as a person; my defense has been of her domestic economic policy and how it saved Britain from ruin. Under Thatcher, Nigel Lawson, Chancellor of the Exchequer, argued that monetary policy should be set to control inflation rather than unemployment as was adopted after the 30s recession. This model has been adopted by most central bankers. I have conceded that foreign policy was disgraceful but I maintain steadfastly that she got the economic policies mostly right.

The problem with most folks on NL is that they resort to emotional blackmail when they can't provide an adequate rebuttal in a debate. Where Thatcher is right now is between her and her God. Its of no concern of mine. Like Fela sang in Army Arrangement "One day of course we must die" - Those who are rejoicing over a fate that awaits us all should not die.

I understand your point, and we can argue econs all day without resolution - it actually is a favorite read of mine and I would love to bulldoze your arguments. But timing is everything. Defending the devil to prove a point is the reason several people are calling you out. If the people of Britain are celebrating her demise, do you see how "weird" you look defending her policy considering how much hate she had for ayou. Context is everything - abeg dont become Nairaland's Alan Keyes

cap28: Katsumoto I forgot to respond to the above - look at your above statement - does that sound like someone who had a problem with the british involvement in the transatlantic slave trade? - you are more or less saying that it is a foregone conclusion that an empire should be built on the enslavement of human beings.

Just be honest and admit that you are an apologist and open admirer of the now defunct british empire.

No Kats is not an apologist. He just got carried away with his own bulls**t

AjanleKoko: I was reading this article in the London Guardian this morning. It deals with the issue of student debt in the US, and how borrowers are having to make lifestyle (and lifetime) adjustments in order to deal with the debt.

Apparently owing $100k and up in student debt is a common occurence in the USA. Generally people have to pay for school outside these shores, but it seems the US is the top dog in this respect. An organization called American Student Assistance says there are around 1.1 million students in the US who owe $100k and above in student loans. To me, that sounds scary.

There's no doubt that American education is quality, compared to almost everywhere else. But in the face of the global recession, how sensible is it really to incur such costs on education. For the 1.1m people, are they guaranteed jobs that can cover their expenses? Simply put, is the ROI on such expensive education guaranteed?

Another interesting stat you can garner from the ASA site is that 96% of people who attended private for-profit institutions (like maybe Stanford or Harvard) borrowed to pay for their tuition. So it's an almost-guaranteed fact that you will borrow money, a lot of it, if you want to go to a really good school in the US.

It would be interesting to hear from the peeps on NL who have borrowed money to pay for their US education. Is it paying off in terms of jobs? Also, are these loans calculated on commercial compounded rates? E.g. if you borrowed $120k to pay for an MBA, what do you actually pay over time, $200k +?

Let's hear from y'all

Most people go to public institutions, which are far less expensive. Typical debt is about 50k and definitely much less than 100k. The loans are usually backed by the government one way or the other, so the interest rates are really low. Which means you can pay it off in about 10 years, assuming you have a job that pays you 60k+ per annum.

Of course there is always the lazy senseless student who wont hold a job while going to school, and puts EVERYTHING on credit. And then there is the student who goes to an ivy league school hoping school reputation will help land a top paying job, so they dont care about expenses. TThese are not that common, and the 1 million sounds off, frankly

pazienza: To those foolish igbos in the north,my advice to them is to stay put. We have enough land in the east to bury u lots. Don't think that your death will trigger us in the east into another war,cos it wont,you would just be buried like a fool u are,and life would continue like nothing happened.

Thank you.

They are staying put, because the rumors are not true. Take the last Kano incident: when the names of the victims were revealed, more than 90% of the victims were northerners. Why the need to keep spreading lies? Some say Achebe died of a heart attack after hearing of the Kano incident. Wouldn't it be a shame, that these vicious lies are not only endangering Nigerian lives, but also took away one of Nigeria's brains.

kolexy: Are you this ignorant, or ur just shying from the truth. Kayode Fayemi was a popular pro-democracy activist. He was the coordinator of Radio Kudirat.¥ Ajumobi was CEO of Conoil, and later a Senator. Amosun is a Fellow of Ican FCA and a former senator. He was the 1 who introduced Gbenga Daniel top Obasanjo. The only person Tinubu made is Rauf Aregbesola of Osun.

Even Aregbesola was self made. He has spent significant time in jail, being a thorn to state powers.

The poorer you are the more kids you need to endure your lineage survives. Yeah, poverty is a biotch

If several tribal warlords are starting threads accusing him of banning them, he must be doing something right. Kudos. Carry on

Desola: Eyin omo oodua, e Jebure, e jo.

A ki foro ya oro.

Lets respect the dead, e jo.

Beautifully said. We are Africans after all, and there is another time and place for arguments. RIP Achebe. God give his family strength to cope with the monumental void he has left.

sucess001: so what exactly is the sense in all you ve written?...am still trying to decipher it...but i cant!

Because you are stup1d?

Your concern is good, but dont over do it. The smartest black activists tend to die of aneurysms, because they see further than others, and get depressed thinking. You are of no use to anybody if you die from high blood pressure. The fact that your peers dont even get what you are talking about may mean that you have found your calling. If you are a praying person, maybe ask for guidance on what you should do. Then find role models you can emulate - dont limit yourself to Nigeria.

sucess001: Dis post also sounds dumb.

First, u need to go read ur Land Use Act. Power over lands in a state is vested in d Governore in trust of the people. So its a governor's responsibility.

And these people are also tax payers.


And pls stop dt st.upid and childish talk of the slum dwellers being from anoda state. Cos indigenes re also there.


And even if there are from other states, when did it become the role of the Lagos government to cater for only people indegenous to that state?


Pls let's open up our reasoning a lil bit. It won't hurt.

These are the same guys who keep whining that there is no law and order in the country. Yet when someone tries to impose some order and sanity, they whine even louder because it demands something from them.

Before you start insulting me, think so that you wont look stup1d afterwards. Paying tax does not entitle you to live on land you do not own for free. This concept seems to elude you, so let me break it down for you. Your taxes help the state government to run its affairs, as it cannot just print money out of thin air. It entitles you to services such as good roads, etc. It does not entitle you to settle on any land you deem fit.

Are there indigenes among those losing homes? Of course. But it doesnt change the facts. If everybody knows that there is one state that will resettle you for free, even though you didn't own the land you were squatting on, you would be a fool not to join the awoof. Lagos population would double in a a year, and you will be in the original situation. If you want some kind of charity or resettling program, it has to come out of the coffers of the FG and spread equally around all states so you dont have abnormal population migration.

See how dumb you look for bringing up the Land Use Act? It has nothing to do with executing law, order and sanity.

LLH Gone (Part 2)


https://www.youtube.com/watch?v=bwHtaCTEitE

LLH Part 1 - Elusive


https://www.youtube.com/watch?v=MVS3crqBzSA

Apparently its changed. Just type the youtube URL, starting with http://

^^^ Ok, too much "akshion" for me - http://en.wikipedia.org/wiki/Universit%C3%A9_d%27Abobo-Adjam%C3%A9

The University was sadly destroyed during armed clashes on 13–14 March 2011

region of man still looks awesome. i wonder how easy it would be to get around in a francophone country speaking english

nice. ivory coast is now on the list. I will definitely swing by Adjame...looks like this is where the action is at

Why would any reasonable person compare Venezuela, a country to Lagos, a state. The "kind" approach you want can only happen if the FG puts a hand in it. Why should I as a tax payer be funding housing for people from other states? Are they reciprocating this gesture, or is Lagos state just supposed to be a mugu.

His drinking prowess is unmatched. Anyone who can consume burukutu early in the morning and still have enough strength to misrule Nigeria is worthy of emulation

tai2: Still into the feminism business. I see its not treating you kindly...lol

lol damn, you are cold. props on the OP.

Logicboy03: lmao.....it invalidates the completeness and message of the whole bible since the bible is now known to be missing parts.

LOL. Thats like saying a physics textbook missing a chapter invalidates the truth in the other chapters.

I hate to to break into this "self-service" party several atheists are having on this thread . But the fact that the bible was compiled to be used as propaganda does not invalidate the authenticity of the individual books compiled. All you can conclude from the original post is that the bible may not be the end-all-be-all as far as spiritual knowledge is concerned. Any other conclusion you draw is biased and makes you just as irrational as the chrisitnas you are lambasting.

ekt_bear: So...my new year's resolution was to get my 6-pack back. After 2 months of hard work and tedious time on a treadmill + calorie counting, it seems to have returned. Now at 205

Dont forget to go on a beer drinking binge to celebrate.

The financial motivation is not strong enough to develop an industry that actively looks for talent. An athletically gifted African without a degree of some sort is very likely doing some menial job to make ends meet. What will make an agbero concerned with every day survival go look for a basketball court so he can work on his jumpshot. They system in the west allows you to survive even if you are not well off. At least you can feed and you very likely have shelter, all provided at the govt expense

Sibrah: Ha ha ha . . . Relocate to where exactly, the LSG should provide alternative as well cos it is not as easy as telling the residents of flood prone areas to relocate.

Where is the money going to come from?

ifyalways: They should put adverts in local languages,pidgin on the various radio stations and name specific areas so as to reach the concerned locals.

Unfortunately, its not going to matter. Where are they going to go? Like most people, they will sit, wait and hope the flood never comes.

My Vicky: Your comparison between middle class nigerian family and middle class african american family is only valid in very few isolated cases, on the average, your assertion is somewhat invalid.

Can you add an example to buttress your point? I know tons of people, who by virtue of not being born into developed countries, had a starting advantage by going to those countries as young adults.

Funny no one has even asked how this was done, maybe we can help some deaf people in Nigeria. Instead, we offer some canned praise, smile and move on with no gain in knowledge or a thought on how we can better our lives with this. Religion is indeed opium. T B Joshua is wonderful

sweet_gala: You still don't get it , I stated already that such a slum should have been destroyed a long time ago. However due process should be followed always.

"Should have" abi? How about I come squat in front of your house for a year. What kind of due process are you going to follow to get rid of me. You "should have" gotten rid of me earlier