A financial analyst, Kalu Ajah has said that the government has good intentions with the introduction of student loans, yet it needs proper restructuring to ensure the aim is not defeated.
During the webinar, he commended the new student loan scheme but pointed out the need for a reevaluation of the funding to ensure it adequately addresses the pain points of students.
Ajah highlighted the need for more funding to ensure everyone is captured in the loan net.
Ajah emphasized the importance of simplicity in the loan process and less clamour for penalties, suggesting that the government should ensure that every student, regardless of credit history, can access loans that they can repay upon graduation.
He also raised concerns about the introduction of collateral requirements for student loans, stating that it could exclude many deserving students who cannot afford collateral or find a guarantor.
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