The Academic Staff Union of Universities (ASUU) has expressed strong opposition to the federal government’s student loan program, describing it as a burden that would further alienate the children of the poor from accessing higher education.
The loan, which is being managed by the Nigerian Education Loan Fund (NELFUND), has sparked controversy since its introduction, with critics alleging that it has prompted universities to significantly increase tuition fees.
Speaking on a Television programme on Thursday, ASUU President, Professor Emmanuel Osodeke, argued that the initiative is counterproductive and called for educational grants instead.
“Our issue with NELFUND is that in a country like Nigeria, it should be grants, not a loan. All the universities are increasing their fees now, jerking up their fees so that students will borrow more loans from this NELFUND, encumbering the children of the poor,” Osodeke said.
He revealed that the rising cost of education has already led to a sharp decline in enrollment in his university department, with many students unable to afford tuition.
“In my department, I now have less than 10 students. Many have dropped out. Apart from courses like Medicine and Law, students are dropping out. The children of the poor are dropping out,” he lamented.
Osodeke highlighted that similar loan schemes introduced in the past had failed due to the inability of graduates to repay.
He noted that the nation’s harsh economic conditions and high unemployment rates further exacerbate the challenges for young graduates.
“We’ve researched globally, and in most countries with student loans, graduates often become demoralized. Imagine a student graduating with a loan of ₦5 million.
“Even as a professor, I wouldn’t be able to repay that in 20 years. How then can a fresh graduate with no job prospects handle such a burden?” he asked.
The ASUU president suggested a return to policies from the 1960s and 1970s when education was more accessible, and budgetary allocations to the sector were higher.
He called for increased government funding for education, arguing that it would eliminate the need for loans.
“This is the third time they are introducing this scheme. The last two times it collapsed because those who benefitted couldn’t pay back. How are we sure this one will survive?” Osodeke questioned.
The federal government, however, maintains that the loan scheme is designed to improve access to education.
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