NANS urges transparency in disbursement of student loans for sustainability

The leadership of the National Association of Nigeria Students, NANS, has demanded for transparency in the implementation of the Student Loan Scheme.

It urged the President Bola Ahmed Tinubu led Federal Government to appoint individuals of unquestionable integrity and competence to oversee the disbursement of the loans.

NANS, the Apex Student body, said that the implementation is done with utmost transparency would ensure the scheme’s success and guarantee its sustainability.

Pedro Obi, NANS National President made the call in a statement in Abeokuta, Ogun State Capital on Friday, stressing that there is need for urgent action on the alleged deportation of Nigerian students from Teesside University in the UK for defaulting on their school fees.

NANS insisted that the Federal Government must take immediate and decisive action to protect the rights and futures of students abroad.

While commending President Bola Tinubu-led administration for initiating the student loan scheme, NANS called on the government to engage all relevant stakeholders in the implementation of the scheme.

According to the students’ body, the loan, if properly implemented, would not only alleviate the financial burdens faced by many students and their families but is also capable of ending the mass exodus of Nigerian students outside the country for studies.

The statement read: “To ensure the success and integrity of the student loan scheme, we urge the federal government to prioritize transparency and accountability in the disbursement of the loans, and this must be done by engaging all relevant stakeholders.

“ It is crucial that the government appoint individuals of unquestionable integrity and competence to oversee the disbursement of student loans. These appointees should be drawn from diverse backgrounds, including academia, finance, and civil society, to ensure a balanced and fair administration.

“We also urge the government to put in place transparent and effective monitoring mechanisms to track the disbursement process and ensure that funds are allocated appropriately. This includes regular audits, public reporting, and feedback channels for students to report any issues or irregularities.

“The loan scheme should be designed to be inclusive and accessible to all eligible students, regardless of their socio-economic background. Criteria for loan eligibility and repayment terms should be clearly defined and communicated to avoid any ambiguity or discrimination.

“We believe that with careful planning and execution, the student loan scheme will not only enhance educational opportunities but also contribute significantly to the socio-economic development of Nigeria.

“ We extend our full support to the federal government in this endeavour and look forward to seeing the positive impact of this initiative on our nation’s students and educational system.”.