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IYCMI: ASUU, ASUP express doubts over student loan
The Academic Staff Union of Universities (ASUU) and the Association of Staff Union of Polytechnics (ASUP) have expressed doubts over the Federal Government’s plan to introduce a student loan scheme. The unions said the scheme is not sustainable and will not address the challenges facing the education sector.
In a statement on Tuesday, ASUU President, Prof. Emmanuel Osodeke, said the scheme is “a ploy to further commercialise education and put the burden of funding education on the shoulders of poor parents and students.”
“The student loan scheme is not sustainable, as the government has not shown any commitment to providing adequate funding for education,” Osodeke said. “The government has also not shown any commitment to addressing the challenges facing the education sector, such as dilapidated infrastructure, poor funding, and inadequate staff.”
ASUP President, Mr Anderson Ezeibe, also expressed doubts over the scheme. He said the scheme is “a recipe for disaster” and will “further widen the gap between the rich and the poor.”
“The scheme will only benefit the rich, who can afford to pay the high-interest rates,” Ezeibe said. “The poor will be further disadvantaged, as they will not be able to afford the high-interest rates.”
Furthermore, the unions called on the government to focus on providing adequate funding for education and addressing the challenges facing the education sector. They also called on the government to scrap the proposed student loan scheme.
Recall that the Federal Government had announced plans to introduce a student loan scheme in April this year. The scheme is expected to provide loans to students to enable them to finance their education. The government said the scheme will be interest-free and will be repaid after the students graduate and get a job.
Bola Tinubu’s government’s decision to introduce a student loan scheme has been welcomed by some stakeholders, who say it will help to reduce the financial burden on parents and students.
However, others have expressed concerns about the sustainability of the scheme and the risk of it increasing the level of indebtedness among students. It remains to be seen whether the government will be able to address the concerns raised by ASUU and ASUP and successfully implement the student loan scheme.