Abstract
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.
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References
Federal Republic of Nigeria. Official gazette Decree No. 12 Students Loans Board Degree. Lagos, 13th April, 1988, Vol. 75. pp. A547–A555.
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.
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Chuta, E.J. Student loans in Nigeria. High Educ 23, 443–449 (1992). https://doi.org/10.1007/BF00138630
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DOI: https://doi.org/10.1007/BF00138630