According to Newsmen, The National Association of Nigerian Students (NANS) expressed disappointment as the Federal Government announced another suspension of the Education Loan Scheme, leaving the scheme's take-off indefinitely postponed. Initially scheduled for inauguration on Thursday by President Bola Tinubu, the scheme has faced repeated delays.
Senate President of NANS, Afeez Akinteye, conveyed the disillusionment among Nigerian students, many of whom have lost hope in the loan scheme. Despite this sentiment, NANS executives remain optimistic, citing their proximity to the government and ongoing discussions.
Akinteye stated, "We are not happy about the delay. We have been monitoring and following up on what is happening. As of Monday, last week, they told us they would launch it on Thursday but late on Wednesday, they told us some items on it were not functioning, there are some hitches around it."
President Tinubu signed a bill in June 2023 to establish the Students Loan Fund, initially aiming for a start date of January 2024, after missing the October 2023 deadline.
In response to the ongoing delays, the National President of the Academic Staff Union of Universities (ASUU), Prof. Emmanuel Osodeke, suggested that the FG convert the loan scheme into scholarships, grants, or bursaries due to the challenging job market in Nigeria.
Osodeke emphasized, "Our position has been made know we don't believe it will work because it has been there in the past, it didn't work out."
However, Executive Secretary of the Tertiary Education Trust Fund (TETFund), Sonny Echono, clarified that the launch of the loan scheme had only been postponed for a couple of weeks, not indefinitely. He explained that the delay was to ensure the scheme's proper implementation without complications and to meet standard requirements.
This clarification came in response to an earlier announcement by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, who stated on Arise News TV that the unveiling of the scheme had been suspended indefinitely for necessary corrections.
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