By Mariam Abeeb
The Vice Chancellor of the University of Ibadan, Prof. Kayode Oyebode Adebowale, has cautioned students against taking the Student loan with the intention of not paying back.
Adebowale gave this warning during a strategic engagement with Nigerian Education Loan Fund (NELFUND) officials , university management and students of the institution .
Represented by the Deputy Vice-Chancellor (Administration), Prof. Peter Olamakinde Olapegba, Adebowale urged students to utilize the loan scheme responsibly, warning that failure to repay would impact future generations who may need the loan.
“Don’t apply for the loan with the mind-set that you will take the it and not pay back because if you do that, generation to come will not have the opportunity to take the loan. I want you to be responsible. It is very easy to criticise our leaders but if you take the loan and refuse to pay back, you are worse than the leaders you are criticising. But I know that the students of this university will do that,” he said.
According to him, the loan scheme is a welcome development that has provided opportunity for many students to access university education.
He noted that many people in the past were unable to afford university education, but with the loan scheme, the current generation is lucky to have access to such opportunities.
“So when the government came on board with this loan, I saw it as a welcome development. It is opportunity that we all should embrace with open arms,” he said.
The Vice Chancellor also dispelled the notion that university education is free in other countries, noting that citizens often take loans to fund their education.
“I know that 75 percent of people here will say they want to japa but do you know that the university education there is not free and citizens are taking loans to go to school? So don’t let anyone bamboozle you. You also get upkeeps apart from fees. Take this opportunity,” he said.
During the engagement, students pleaded with NELFUND officials to ensure timely disbursement of loans and upkeep allowances.
Responding, the Director of Monitoring and Evaluation, NELFUND, Aliyu Mohammed, assured students that the Fund has introduced an automated system that will to ensure timely disbursement of loans and upkeep allowances.
“With the updated and automated system, there won’t be any delay in disbursement. This one that your institutions uploaded today, I am telling you this for free that within the next two weeks, all disbursement will be made. The automated system has taken care of the issue of not approving loan early to prevent academic disruption,” he promised.
He also added that NELFUND in a few weeks will create a code where students will be able to check their loan status easily without logging in.
Never miss a moment! Get the stories shaping Nigeria, delivered straight to your phone. Follow Peoplesdaily Newspaper on WhatsApp for breaking news, exclusive reports, and the headlines everyone will be talking about, before anyone else.
