The President of the Academic Staff Union of Universities (ASUU), Prof Emmanuel Osodeke, once again voices his objections to the recently approved Students Loan Act, stating that it may increase suicide rate.
During an appearance on Channels Television’s Sunday Politics on June 18, 2023, Prof Osodeke reiterated his concerns regarding the student loan bill signed into law by President Bola Tinubu.
He urged the president to amend the legislation and transform it into grants specifically aimed at assisting financially disadvantaged students.
“This would have been better if we are giving it to those set of students who are very poor, it should be called a grant, not a loan.
“It should be called a grant since it is coming from the Federation Account and not that (after) these people have accessed it and when they are graduating, they have heavy loads behind them and within two years, if they don’t pay, they go to jail,” Osodeke said.
The President of ASUU also expressed dissatisfaction with the impractical conditions set for accessing the loan, pointing out that over 90% of students would not meet the requirements.
Osodeke further mentioned that ASUU’s research on student loans revealed that beneficiaries of similar schemes in other countries have tragically resorted to suicide.
“We, as a union also did research of countries all over the world, of people who have benefited from this loan, they were committing suicide,” he added.