The National Association of Nigerian Students (NANS) has proposed a five-year period after completing the National Youth Service Corps (NYSC) before beneficiaries of the Federal Government loan scheme should begin repayment.
NANS argued that expecting repayment to commence just two years after NYSC is impractical, given that less than 10 percent of graduates secure employment within that timeframe.
Lucky Emonele, President of NANS, presented this suggestion during a public hearing in Abuja on the repeal and re-enactment of the 2024 Students Loans Access to Higher Education Bill. The hearing was organized by the Senate Committee on Education, TETFUND, and the House of Representatives Committee on Student Loan, Scholarship, and Higher Education Financing.
Emonele commended President Bola Tinubu for appointing NANS leadership as representatives on the loan board and applauded the decision to repeal the Act to address potential obstacles to the success of the student loan scheme.
He emphasized the necessity for study grants for Nigerian students and urged measures to prevent arbitrary increases in school fees by tertiary institutions. Emonele called on the National Assembly to pass a resolution prohibiting public tertiary institutions from raising fees for the next decade to ensure the loan scheme’s sustainability.
In response, Minister of Education, Prof. Tahir Mamman, praised Tinubu’s dedication to education, highlighting the President’s commitment to ensuring access to education for all school-age children.
The minister stated that the public hearing would allow further input to improve the bill for the benefit of Nigerian students.
Senator Muntari Dandutse, Chairman of the committee, underscored the importance of quality higher education, noting that initiatives like the student loan scheme would lead to a brighter future for youths and the nation as a whole.
Senate President, Godswill Akpabio, represented by Deputy Senate President Jibrin Barau, expressed optimism that the legislative agenda of the 10th National Assembly would significantly improve the standard of living for Nigerians. He commended Tinubu for supporting Nigerian students through the loan scheme, recognizing its potential to enhance access to education and economic development.