The Academic Staff Union of Universities yesterday opposed the Students’ Loan Bill sponsored by the speaker of the House of Representatives, Femi Gbajabiamila.
ASUU President, Prof. Emmanuel Osedeke, expressed the opposition in Abuja at the National Summit on Tertiary Education Reform.
The bill, which is before the Senate for concurrence, seeks the establishment an ‘Education Bank’ that will provide loans of up to N500,000 for students, which will be paid back after graduation.
Osedeke said it was unfathomable, considering the level of poverty in the land and the current minimum wage, that students would pay as high as N250,000 tuition fee and apply for a N500,000 loan to pay and sustain themselves.
He vowed: “ASUU will never support the issue of education bank because the poor would not benefit from it. The best solution is adequate funding for universities”.