NewStats: 3,265,243 , 8,186,112 topics. Date: Saturday, 14 June 2025 at 03:59 AM 144455

The Executive Secretary of the Nigerian Education Loan Fund, Akin Sawyerr said student loans will be disbursed directly to the institutions of applicants to avoid diversion.

He also noted that individuals who obtain the loans will be made to repay their loans two years immediately after completion of the mandatory National Youth Service Corps.

Sawyerr made this known during a meeting with the Executive Secretary of the National Universities Commission, Chris Maiyaki in Abuja.

According to a transcript of the meeting obtained by Sunday PUNCH in Abuja, Sawyer said that the sources of NELF funding included; one per cent of all profits accruing to the Federal Government from oil and other minerals; one per cent of taxes, levies and duties accruing from the Federal Inland Revenue Service, Nigeria Immigration Service, Nigerian Custom Service; Education Bonds and Education Endowment Fund schemes.


He also stated that the Education Loan would also be funded through donations, gifts, endowment and revenue accruing from any other source.

Meanwhile, the lecturers under the auspicies of the Academic Staff Union of Universities, the Federal University of Technology, Akure, chapter, has again reiterated its rejection of the proposed students’ loan scheme initiated by the President Bola Tinubu-led istration.

The lecturers described the scheme as a way to starve the public universities of funds, also saying if implemented, it would further stifle Nigerian indigent students.


The Chairman of ASUU of the FUTA, Prof Pius Mogaji, stated this during an award of scholarship to some brilliant and indigent students of the institution on Friday.

Mogaji explained that the proposed scheme would keep students in permanent debt, adding that it would starve public universities of funding by the government.

https://punchng.com/why-student-loans-will-be-disbursed-directly-to-institutions-fg/?amp

talk

Tales by moonlight lyrics.

The scamming and looting continues

All these students loan ‘ish’ na rubbish. The president is soo dumb to come up with such idea. This is not about Tinubu,the party or whatever,this is fact and the fact is,this is a dumb idea.I’m even trying to look at the idea from the bright side but it still doesn’t make sense.


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Thieves

Direct to Institutions ke, dead on arrival.

Student loan from a government whose rotten head was a student who graduated from schools before they were formed? .........I don't get it.

Nothing concern me but E dey mind


Nothing to believe again

Instead I leave to go school.

Go to hell with ur loan, haven't u suffered Nigerians enough.

Two Years to replay lol 😂 on his mandate una go choke

It will not work in Nigeria

No one chance.

Fg no wan enter

They used the student loan nonsense to deceive gullible people.
It's their nature to scam.

So that it can never get to the students… the cluelessness of this government is obvious

We haf enter one chance officially 😀

Implementing things is more important than just an audio talk

bniel:
How do you repay student loan 2 years immediately after nysc service when you have no meaningful job as a graduate. With the current inflation rate?

Well, in abroad like Canada and USA, you’re expected to start repaying your loan, with interest 6 months after graduation. Since we like citing abroad when making reference to what is happening in Nigeria, the government has decided to make Nigerians live like those countries.

This is where the problem will start

https://www.youtube.com/watch?v=jeLnro-Xw6E

It will definitely not get to anyone's hand . What a pity

As usual
Same way we heard millions of school children were fed during Covid.
Same way we heard millions of poor people received credit alert from the Fg.

APC is equal to Fraud, evil party.
It shall never be well with all their ers.

Too much talking, no action no implementation. Continue talking

😂😂 which institutions? The one with thieves and election riggers as managers?? The fg just want to settle those who helped them rig election

Very Good Development

oilyngbati:
Well, in abroad like Canada and USA, you’re expected to start repaying your loan, with interest 6 months after graduation. Since we like citing abroad when making reference to what is happening in Nigeria, the government has decided to make Nigerians live like those countries.

Canada is first world ,Nigeria is fourth world going to fifth world. Anything good is possible in Canada but in Nigeria,your on your own. Use your head comrade,use your head.



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oilyngbati:
Well, in abroad like Canada and USA, you’re expected to start repaying your loan, with interest 6 months after graduation. Since we like citing abroad when making reference to what is happening in Nigeria, the government has decided to make Nigerians live like those countries.

Gbamsolutely!!
You are right.

But,
Hopefully, the government should also make Nigerian citizens live like the citizens of those countries, abi now?

post=128511487:
Very Good Development

lolz 😂😂

Why giving to institutions?