ASUU Student Loans: Examining the Claims of Unreliability
The Academic Staff Union of Universities (ASUU), Nsukka zone in Enugu State, has expressed concerns regarding the Federal Government’s student loan scheme, describing it as “unreliable” and “untested.”
ASUU’s Zonal Coordinator, Raphael Amokaha, highlighted that the Nigeria Tax Bill 2024 aims to redirect funds from the Tertiary Education Trust Fund (TETFund) to the Nigerian Education Loan Fund (NELFund). He emphasized that TETFund has been instrumental in developing infrastructure and building capacity in tertiary institutions, while NELFund’s student loan scheme has yet to demonstrate its effectiveness.
Amokaha stated, “The student loan is clearly designed in such a manner that less than half of Nigerian students will benefit from the scheme and its sustainability has not been tested in any way, whereas any lecture room, laboratory, or clinic erected by TETFund will serve all the students.”
ASUU urges the National Assembly and state governments to protect TETFund from being abrogated under the Nigeria Tax Bill 2024, emphasizing the importance of maintaining and improving the agency’s operations for the benefit of all students.