The Student Loans Act, which will let needy students obtain financial aid from the Education Bank to pursue their academic goals, has been signed into law, and the National Association of Nigerian Students (NANS) has praised President Bola Tinubu for doing so.
The group also referred to the signing of the law as a Democracy Day present to Nigerian students in a statement released on Tuesday by the National Vice President for External Affairs, Comrade Akinteye Afeez.
“The first Democracy Day in this new dispensation came with a special gift for us the Nigerian students and our parents – signing of the student loan bill into law. This is because whatever affects us equally affects our parents,” the student body said
Numerous Nigerian students were dropping out of school owing to a lack of financial aid, according to NANS, who also stated that the creation of the Education Bank would lessen their suffering.
The students stated Tinubu’s period has so far represented renewed optimism for the nation and expressed pleasure with his performance since taking office.
“Now, he has surprised us in our jurisdiction (education) with access to loans for us in higher schools. This means that the rate at which our fellow students drop out of school will reduce drastically and more students will be encouraged to apply into higher institutions without the fear of finance, since they now know that they have a place to look up to for financial aid.
“Also, the rate at which students commit suicide over depression when they drop.out of school and the rate at which some of our female students engage in some vices in order to meet up with payment of their fees will reduce or die naturally because there will be no more financial pressure that will warrant such acts.
“This new law will correct so many anomalies and will put several Nigerian institutions at par with their counterparts abroad because from research, most of the brains the institutions need are not usually able to afford education. Now that is no longer the case.
“I want to sincerely appreciate President Tinubu on behalf of the Nigerian Students and I want to categorically say that we don’t regret endorsing Mr President and we know that he is yet to even start with Nigerians as this renewed hope shall come alive in every Nigerian home in no distant time.”
