The Nigerian Government has been advised to adopt Bayelsa model for its planned national student education loan scheme.
The Acting Vice-Chancellor of the University of Africa, Toru-Orua, Bayelsa State, Professor Barclays Ayakoroma made the call in an exclusive Interview with VON in Yenagoa, the Bayelsa State capital.
“The Federal government should take a queue from the Bayelsa State government. First and foremost, the former governor of Bayelsa State, His Excellency Henry Seriake Dickson introduced the Bayelsa Higher educational loan scheme and the programme is working very well“.
“When we started the programme, the money was paid to the institutions where the students are. Along the line students protested that the money should be pay to them since it is their own loan scheme“.
“They started paying the loans directly to students and we then realized that most of them collected the money and did not pay their school fees for which they were given the purpose of the loan.”
He therefore urged the Federal Government to pay the loans directly to the Institutions so that unscrupulous would not divert the money for other purposes.
The Acting Vice Chancellor went ahead to advise students to make use of the federal government loan scheme judiciously.
“My own advice is for them to ensure, they should use the money judiciously. It will go a long way in not just giving them quality education, but also equip them to become self-employed.”
In June 2023, President, Bola Tinubu signed the Students Loan Bill into law, in fulfilment of one of his promises to liberalize funding of education in the country.
But in January this year, President Tinubu directed the extension of interest-free loans to Nigerian students interested in skill-development programmes – in a bid to ensure inclusivity and equity.
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