Let them join the army - Reno Omokri lists three ways FG can recover student loans from loanees

Reno Omokri, a leading member of the Peoples Democratic Party (PDP) has commended President Bola Tinubu for removing restrictions on accessing student loans but believes "more needs to be done and loans have to start being disbursed right away."

He made this known in a tweet after the federal government on Monday, July 31 in a tweet said there would no longer be restrictions on who can access the loan, as the Student Loan Act proposed.

Reno in a statement also highlighted the various ways the loans can be repaid.

"The removal of the restrictions on accessing student loans is a commendable step by President Tinubu. But more needs to be done. The loans have to start being disbursed right away, and they should be interest-free. Furthermore, the Federal Government should offer recipients of these loans the opportunity to pay them off by working for the government after graduation and NYSC until they are paid back in full. In addition, the Federal Government should also offer the incentive of student loan debt cancellation for any graduate who agrees to join the armed forces after graduation," he said in a tweet.

Recall that President Tinubu had announced the removal of restrictions on who can access various student loans.

This was made known via the verified Twitter account of the Federal government @NGRPresident.

The presidency’s tweet read, “In line with his promise to ensure no Nigerian student abandons educational pursuits as a result of economic circumstances of their parents, President Tinubu has approved the removal of all restrictions on the Student’s Loan, to make it available to any student or family that may desire it.

“Similarly, President Tinubu has directed the authorities in all Federal Institutions of higher learning to avoid arbitrary increase in sundry fees payable, and where possible defer further increases, so that parents and students don’t face too many difficulties.”

The Student Loan Act requires applicants to come from families with less than ₦500,000 annual income, get a level 12 civil servant and lawyer with over ten years post-call years as guarantors and get approval from their vice-chancellors.