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With the global spread of education and the benefits attached to getting one, a lot of young adults now are all interested in healing the plague of illiteracy.
In Nigeria, right after getting good grades in the WASSCE examination, the next thing to do is ace the jamb examination (which is the combination of four subjects in line with the intended course of study) then wait for admission into the tertiary institution of one's choice. The wait usually never exceeds eight months (except one is unlucky and doesn't get into the school due one or two reasons) and what comes next is preparation for life as an undergraduate.
To a lot of families within the middle or upper class, it's usually no stress besides the pressure of handling this new adventure but for those who fall way below these two classes above, the challenge is just getting started. Immediately after the celebration of being one of the lucky ones opportune to better themselves in learning, reality kicks in and realization that a few things need to be settled or every sacrifice is all fit nothing. There are bills to pay like tuition fee, registration, books to be bought, payment for an accommodation, feeding and a whole lot of things that all require finances to settle. The once beautiful dream that was meant to be good news easily turns into a nightmare for the below average family, the only option is to borrow and that is where the student loan comes in.
The student loan program was introduced in Nigeria immediately the current president took over office three years ago. To a lot of people the program was a lifeline to a lot of students who had no hope of going to school or even completing their education at the tertiary level. It covers for tuition, upkeep and a lot necessities every semester for as long as that student is in school to be paid in installment a year after completing the NYSC program with . On paper this seems like a very reasonable arrangement but in reality it comes with major drawbacks and if you look past the surface, you'll know that policies like this always come with ulterior motives. There is no guarantee that once you graduate there is a job waiting to sort this debt.
With the labor market really saturated and the lack of jobs to match the unemployment rate, what happens when someone takes the loan graduates and doesn't get a job to pay what he/she owes.
Most cases after a long period of searching for a job and finally getting one, the system begins it's monthly deduction for the loan from the salary that is barely even enough to get by. This reality is truly saddened because at some point it begins to feel like every effort seems to be going someplace else but does the system care? No!!! A debt is a debt and must be paid. Some people work the most, get paid good salaries yet still spend most part of their lives paying for a debt that they collected under the facade of investing for the future.
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Students loan is not really the villain of this story. It has given those without the means an opportunity to go to school. There have even been numerous occasions where people take loans, plan their lives well, pay them off and end up with a happily ever after ending so saying it is a scourge of the education system is far from the truth. The idea where taxes should be increased to help ease the burden of paying on others for the loan doesn't sound so bad but it should only apply to people with the means to do so. Looking at this angle, the fact that people have to loan their futures to afford an education already shows how messed up the system is. There should be a way some sort of means where even the poor are able to go to school without the backlash that comes with loans but unfortunately this is just an idealistic dream and highly to happen. However nothing is impossible, so here's to hoping.