The Academic Staff Union of Universities (ASUU) has appealed to President Bola Tinubu to transform the recently assented Students Loans Act into grants specifically designed for indigent students.
During an interview on Channels Television on Sunday, June 18, ASUU National President, Prof Emmanuel Osodeke, expressed his belief that the initiative would be more beneficial if it were extended solely to students from impoverished backgrounds, suggesting that it should be referred to as a grant rather than a loan.
As Prof Osodeke explained, the source of funding for these loans is the Federation Account, and burdening graduates with heavy debts and potential jail time if they fail to repay within two years seems unjustifiable. He emphasized the importance of engaging in collective bargaining and considering various perspectives on this matter.
Just last week, on Monday, President Tinubu fulfilled his campaign promise by signing the Students Loans Bill into law. This legislation aims to provide interest-free loans to economically disadvantaged Nigerian students.
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