The National Association of Nigerian Students (NANS) has put forward a suggestion that beneficiaries of the Federal Government loan scheme should begin repaying their loans five years after completing the National Youth Service Corps (NYSC), instead of the current two-year timeframe.
NANS argues that less than 10 percent of graduates manage to secure employment within the first two years after NYSC. This proposal was made by Lucky Emonele, the President of NANS, during a public hearing on the repeal and re-enactment of the 2024 Students Loans Access to Higher Education Bill.
The public hearing was jointly organized by the Senate Committee on Education and TETFUND, and the House of Representatives Committee on Student Loan, Scholarship, and Higher Education Financing. Emonele expressed appreciation to President Bola Tinubu for including NANS leadership as representatives of the students on the loan board. He also acknowledged the decision to repeal the Act in order to address any potential issues that could impede the success of the student loan scheme. Emonele emphasized the need to provide grants for students, which would enable them to complete their studies and reduce the burden of loans. He also urged that Nigerian students should receive equal treatment and support as public tertiary institutions.
In response, the Minister of Education, Prof. Tahir Mamman, commended President Bola Tinubu for his commitment to the education sector and his determination to ensure all school-age children have access to education. Mamman stated that the public hearing presented an opportunity to make further improvements to the bill for the benefit of Nigerian students. Senator Muntari Dandutse, Chairman of the committee, stressed that providing access to quality higher education was a crucial concern for Nigerian students. He added that successfully implementing such initiatives would create a brighter future for the youth and contribute to the nation’s progress.
The Senate President, Godswill Akpabio, represented by the Deputy Senate President, Jibrin Barau, expressed his appreciation for President Tinubu’s vision and unwavering support for the student loan scheme. He highlighted that the legislative agenda of the 10th National Assembly aimed to significantly enhance the standard of living for Nigerians. The proposed changes to the student loan repayment timeline align with NANS’ objective of easing the financial burden on graduates and promoting equal opportunities for all students.