The Academic Staff Union of Universities (ASUU) and The National President of the Academic Staff Union of Polytechnics (ASUP), Anderson Ezeibe, have condemned the student loan bill signed into law on Monday by President Bola Tinubu.
Recall that the President signed the bill on Monday at the Council Chambers of the Presidential Villa, Abuja.
The bill, which was passed by the National Assembly in November 2022, was sponsored by the immediate-past Speaker of the House of Representatives and the new Chief of Staff to the President, Femi Gbajabiamila.
The legislation provides for the establishment of the Nigerian Education Bank, which will have the power to administer, supervise, coordinate, and monitor the management of student loans in the country.
Speaking in an interview with the newsmen on Monday, the ASUU Chairman, Prof. Emmanuel Osodeke described the loan bill as discriminatory and not feasible.
Osodeke asserted that the bill will show the disparity between the children of the rich and the poor, stressing that the union would react properly in due course.
He said, “The union will react soon but everyone knows our position on student loans because you will end up encumbering the children of the poor with loans and debt after graduating. This is discriminatory. If what I read online is correct, it said it is only for children whose parents earn at least N500,000 per annum. That means if your father earns more, you won’t benefit.”
-Advertisement-
In the same vein, The National President of the Academic Staff Union of Polytechnics (ASUP), Anderson Ezeibe, has condemned the student loan bill signed into law on Monday by President Bola Tinubu.
READ ALSO: Ogun State House Of Assembly Inauguration Postponed
The ASUP President also lamented that it may be difficult for students who obtain the loan to pay back due to the high unemployment rate among graduates.
He said: “I have not studied the bill and we don’t want to react on the surface. But I have seen one area that will not be practicable.
“It says that students should refund the money two years after NYSC. But what is the provision for someone who is not working after NYSC? And will they all get jobs immediately after NYSC?”
We do everything possible to supply quality news and information to all our valuable readers day in, day out and we are committed to keep doing this.
Your kind donation will help our continuous research efforts.
-Advertisement-
-Want to get the news as it breaks?-
