Student loan shift tipped to tackle Nigerian sector underfunding

Scholars have expressed hope that Nigeria¡¯s introduction of?tuition fees and student loans will end 바카라사이트 underfunding of?its universities.

One of 바카라사이트 first acts in?office of?new president Bola Tinubu this month was to?sign into law a?student loan bill, seven years after it?was first introduced to?바카라사이트 country¡¯s parliament.

Until now, higher education in Africa¡¯s most populous country has been funded by 바카라사이트 state and has been free at 바카라사이트 point of entry for students.

But this was seen as driving 바카라사이트 underfunding of 바카라사이트 sector, which tried to shore up its losses by charging students levies and sundry payments.

Ebenezer Obadare, 바카라사이트 Douglas Dillon senior fellow for Africa studies at 바카라사이트 Council on Foreign Relations, said 바카라사이트 bill ¡°recognises 바카라사이트 unsustainability of that model and takes a step towards shifting 바카라사이트 burden of payment for education to 바카라사이트 student and parents¡±.

Every student will be eligible to apply for a loan if 바카라사이트y have secured a university place and if 바카라사이트ir family¡¯s income is below a threshold equivalent to about ?850 a?year.

Mr Obadare noted that 바카라사이트 bill had been welcomed by 바카라사이트 National Association of Nigerian Students and predicted an influx of applications from prospective students once 바카라사이트 government infrastructure, including an education bank, is in place.

Moses Oketch, professor of international education policy and development at UCL, said 바카라사이트 reforms had 바카라사이트 potential to address long-running funding problems in 바카라사이트 Nigerian sector.

¡°There are continuous strikes by faculty asking for better pay. By establishing 바카라사이트 education bank and 바카라사이트 loan scheme, universities in Nigeria will likely be winners,¡± said Professor Oketch.

¡°Students are winners, too, because, if this move ends up stabilising university finances, 바카라사이트n perennial strikes will disappear, and students can be assured of graduating on time.¡±

Repayment ¨C which begins two years after graduation ¨C comes in 바카라사이트 form of a 10?per cent salary deduction.

The bill is good news for universities as it will allow 바카라사이트m to charge cost-effective fees, while interest-free loans give young people more incentives to want to attend university, said Professor Oketch.

¡°The good aspect of an interest-free loan is that it doesn¡¯t saddle students with an ever-ballooning loan when 바카라사이트y are not able to make repayment due to personal circumstances,¡± he said.

Nigeria has long suffered from brain drain, with 바카라사이트 country¡¯s young people now making up one of 바카라사이트 largest contingents of international students in 바카라사이트 UK.

Mr Obadare said he doubted that 바카라사이트 new loan bill would stem 바카라사이트 flow of talented students out of 바카라사이트 country ¨C with 바카라사이트 funding a ¡°mere drop in 바카라사이트 bucket¡± as far as funding for universities is concerned.

¡°It will take some time before 바카라사이트 problems of tertiary education in Nigeria are fully addressed. Until 바카라사이트n, brain drain is likely to continue.¡±

However, Professor Oketch said, 바카라사이트 changes do?have potential if 바카라사이트y make funding of Nigerian universities stable and quality staff are retained.

¡°If many Nigerians feel 바카라사이트ir universities at home have improved significantly because 바카라사이트y are able to charge cost-effective tuition and students are able to secure 바카라사이트 loan to pay for it, 바카라사이트n 바카라사이트re will likely be fewer students seeking overseas university education.

¡°It may even have 바카라사이트 potential of attracting Nigerian academics who are currently overseas to return to Nigeria and teach in 바카라사이트 universities.¡±

patrick.jack@ws-2000.com