Are Student Loans a Solution to Rising University Fees in Nigeria?

I believe the student-loan scheme is being presented as an achievement while tuition and living costs continue to rise beyond what many families can afford. A student at UNILAG may now face about ₦200,000 per semester in total charges, then be offered a loan to cover costs that were far lower in previous years. In 2013, UNILAG fees were reportedly much lower, while fuel, exchange rates and basic commodities were also more affordable. In my view, the wider problem is declining purchasing power, unemployment and the growing difficulty parents face in funding their children’s education. My concern is what happens after graduation if jobs are unavailable. Earlier generations benefited from more affordable public education, bursaries and other support. This generation is increasingly expected to begin adult life with education debt. I see this as a failure of the current government’s approach to education and the economy.

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