Political analyst, Kabiru Ojo has criticised the Federal Government’s student loan scheme, saying it has placed more financial pressure on parents and has had only a limited impact on Nigeria’s education system.
Speaking in an exclusive interview with DAILY POST on Sunday on the state of the country’s economy and education sector, Ojo said the hardship facing Nigerians remains severe.
He argued that the student loan programme has not delivered the expected benefits.
According to him, many students are yet to benefit from the scheme, leaving parents to shoulder rising education costs.
“The student loan has brought more hardship to parents. It has had only a minimal impact on the education system because it has not covered even up to 70 per cent of Nigerian students,” he said.
Ojo argued that the introduction of the loan coincided with significant increases in tuition fees in many tertiary institutions, making it more difficult for students who are not beneficiaries.
He recalled that in the past, many students were able to raise between ₦20,000 and ₦30,000 through temporary jobs during school breaks to pay their fees and continue their education.
However, he said many institutions now charge over ₦100,000, while some charge as much as ₦200,000, making it almost impossible for students to earn enough money within a short period.
“Some students now have to leave school because they are not beneficiaries of the student loan. Before now, school fees were affordable enough for students to hustle for one or two months and
