Student Loan Act: NANS Seeks Ease Of Access, Request 5-Year Repayment Period
The President of the National Association of Nigerian Students (NANS), Usman Barambu has appealed to the leadership of the House of Representatives to amend the Student Loan Act to allow all Nigerian Students easy access to the loan. INDEPENDENT reports.NYSC Portal
Also, NANS asked the House to include student representation on the board and capture Polytechnics and Colleges of Education on the board instead of only the National University Commission (NUC) which was earlier captured.
In his presentation during the legislative summit on student loans and access to higher education held by the ad-hoc committee on Thursday in Abuja, Barambu decried the criteria for access to loans in the current act was too stringent, adding that the method of payment of 2 years was too short but should be reviewed to at least 4 to 5 years.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaHe also called for the list of guarantors to access loans to be looked into, saying that most students will not be able to meet the guarantor’s requirement.JAMB Portal
“Student loan is for us and the board no student representation on the board. The board only captured NUC sidelining the polytechnic and colleges of education, they should all be inclusive for fairness and equity.informationguidenigeria
“Also the method of payment should be looked into as most students are not able to find their ground financially two years after graduation, it should be revised to 4 to 5 years. The act also gives no room for forgiveness in cases of death, especially for security officers, who should also be looked into.”JAMB Result
The Registrar of the Joint Admissions and Matriculation Board (JAMB), Professor Is-haq Oloyede, represented noted that Student loans represent a turning point in the history of higher education in Nigeria, in the 21st century.
Oloyede tasked the lawmakers with the feasibility of the loan covering other areas
He stressed the need to review the Act to cover the cost of other things beyond school fees as students now pay more for accommodation, feeding and transportation.
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JAMB also canvassed the development of a conducive environment for the repayment of the loan even as it noted that the Act should be calibrated to factor in market instability, inflation pandemics and force major.
Another recommendation by JAMB was that the loan should not be one amount at all times, adding that guarantees should be inserted so that it will be above inflation.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaJAMB, however, urged parliament to develop an accountability framework for the loan and called for measures that would guarantee its sustenance.