Student loans in Nigeria
- 144 Downloads
The Nigerian Students Loans Board was first established in 1972, and between 1973 and 1991 it provided loans totalling 46 million Naira, to help Nigerian students finance undergraduate or postgraduate study in Nigeria or abroad. There have been severe problems, however, and the rate of recovery of loan repayments has been very disappointing. This article describes the operation of the student loan programme in Nigeria and its past problems, outlines the current attempts of the Nigerian Students Loans Board to improve the efficiency of loan collection and proposes the establishment of a new Education Bank to finance student loans and other forms of investment in higher education.
KeywordsHigh Education Severe Problem Student Loan Postgraduate Study Current Attempt
Unable to display preview. Download preview PDF.
- Federal Republic of Nigeria. Official gazette Decree No. 12 Students Loans Board Degree. Lagos, 13th April, 1988, Vol. 75. pp. A547–A555.Google Scholar
- Woodhall, M. (1983) Student Loans as a means of Financing Higher Education: Lessons from International Experience. World Bank Staff Working Papers, No. 599, Washington, D.C.: The World Bank.Google Scholar