Secret Behind Tinubu Students Loan finally Revealed


president tinubu

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Secret Behind Tinubu Students Loan Finally Revealed


Student loan is money borrowed from the federal government or a private lender to help pay for college costs, like tuition, supplies, books and other expenses. federal student loans typically have lower interest rates and more flexibles repayment plan than private loans.

president bola tinubu on monday signed into law a bill to establish a student loan fund(SLF)
to provide interest- free loans to Nigerians seeking higer education.
the billed is titled, students loans (access)

It's just an attempt to remove "Education Subsidy" without causing an uproar.
Now let's dive in:
Who qualifies for the Student Loan:
The simple answer is: NOBODY.
It's almost impossible for you to qualify for the Student Loan and here is why

1. An applicants or his parents must provide tax clearance: This is not totally bad till you see number 2.

2. The Applicants or his parents must be earning total income less than #500k a year. Now slow down and do the maths
To earn #500k a year means that the husband and wife are earning less than #41,000 a month. That is #20,000 each
While minimum wage is #30,000
Which means if your both parents are earning, you are automatically disqualified because they are either earning more than #41,000 or they do not pay tax because you cannot pay tax on salary below minimum wage

3. Now here is the high jump of the Act: These 2 people earning less than #50,000 will now have to provide  a DIRECTOR IN CIVIL SERVICE and a LAWYER OF 10YEARS IN SERVICE as Guarantor
Take into consideration, yourself doing good for your self, do you know DIRECTOR in Civil Service?
But that is not the worst part

4. The Director and Lawyer has to surety that if you default, they will pay the loan
Do you know what that means, NO DIRECTOR WILL TAKE SUCH SURETY.
But here is the worst part

5. After you meet all these requirements, will you get the loan? NO!
The act said "Loan will be given when funds are available. In other terms, you are still at the mercy of the “system".

Here is a secret no one is telling you.....


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