Student loan needed to better varsities' financial stand — Don

The don recalled that tuition fees in the varsities were abolished by the Federal Government in the 1970s due to the availability of much revenue from oil and was included in the 1979 Constitution and later in the 1999 Constitution but saying the “whole initiative entered into a quandary by the time the ability of the crude oil-based economy to generate funds, due to complications associated with the global crude oil market, was greatly degraded.

He said, “Thus, the nation was confronted with a situation in which the government could not go back to the no-tuition-in-universities policy, yet is incapable of providing the needed funds to fill the gap. By the season of this, Nigerian public universities, especially federal universities, are now in a very peculiar situation in which proprietorial funding is receding, and the operators of the system are not permitted to charge tuition fees.

“This is why the idea of a loan scheme to be floated by the government, such as, would allow every undergraduate that requires funds to access such, to meet their tuition fees commitment, is sorely needed. This would afford the universities the latitude to charge for tuition, thus ensuring that they stand on a better funding pedestal.”

In his remarks, the Vice Chancellor of the University, Prof. Olukayode Amund, who described the registry as an important part of any university, urged other faculties in school to take a cue from the registry department lectures to organise their own lectures.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Education Education Latest News, Education Education Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Student activist rusticated by UNILAG graduates after seven yearsA student activist, Mr Olorunfemi Adeyeye, who was rusticated in 2016 by the University of Lagos for organising and leading a mass protest
Source: MobilePunch - 🏆 8. / 63 Read more »

Cook-a-Thon: VC Hails Ekiti Varsity Student As She Reaches 120hrsThe Vice-Chancellor of Federal University, Oye Ekiti, (FUOYE), Prof. Abayomi Sunday Fasina has hailed a student of the institution, Chef Dammy Damilola
Source: LeadershipNGA - 🏆 4. / 77 Read more »

Student loan will make tertiary education affordable – VCs - Punch NewspapersThe Committee of Vice Chancellors and Registrars of Private Universities in Nigeria has commended President Bola Tinubu for signing into law
Source: MobilePunch - 🏆 8. / 63 Read more »

Student loans: A game changer for education financingThe Bola Tinubu administration has just signed into law the student loan fund meant to critically address the funding gaps that have plagued higher education in Nigeria.
Source: MobilePunch - 🏆 8. / 63 Read more »

Student Loans Will Revolutionise Access To Education – BamigbadeFollowing the signing of the Students Loan Bill into law by President Bola Tinubu, the director-general of the All Progressivse Congress Professionals
Source: LeadershipNGA - 🏆 4. / 77 Read more »

VC Calls For Calm As Protest Rocks Delta Varsity Over Death Of StudentFor two days running, protest has erupted at the Delta State University (DELSU) Abraka, over the death of a 300-level student of Fine Arts, Ayaemene Eugene.
Source: LeadershipNGA - 🏆 4. / 77 Read more »