Chains Around Our Necks: The Untold Reality of Student Debt.
This is a good one, and for me if I'm being asked if its best for the government to help clear all outstanding student loans, even when it means that the tax we all pay would increase, I wouldn't rush to give an answer, yeah, and even if I would rush too, my answer would only depend on one thing, and that is whether we have a working system.
The government has been taxing us greatly for a while now, and we can't help but ask where all of these money are going into, we can't see it or what they are using it for in our society, so why would I chose to say yes to such a request, especially when I know that this student loan of a thing is one caused by them too. If it is in a working system, why would we need loans, and even if you say it is happening in advanced countries too, then I would as well tell you that they are seeing what their taxes are being used for and they have a working system.
Some years back, I heard about how students loans work in some countries abroad, I was told that students can take loans to go to school and further their education till they graduate, and when they get a job they can start paying the money back from what they are earning. That idea makes sense, I was even told that if a student who took loans to go to school graduated and didn't get a job so he/she can start repaying, they can sue the government to court for it. That asko makes sense to me, the government of such countries can do nothing but to make sure that unemployment rate is low.
But Nigeria, what a different country we are. This is a country where you are wonly going to school to be educated and not with the mindset of getting a job when you're done. You can graduate and spend years seeking fr a job. And I feel maybe this prompt came up because of the NELFUND that is now available to students, where they can take loans and pay back later when they're done in school. And even though it may look good, the borrowers still remain responsible for it. And even though some may say it is good, it is interest free and all of that, well I agree with you to some extent, but what do you think it is from a student point of view, they know there's a debt for them to pay when they're finally done.
And we also shouldn't even see this loans as a way government is trying to make education accessible to us. Yes, they're not doing us a favor. And you would want to ask me why, before NELFUND came, most families still struggle to pay their children tuition fees and all of that, but then it was even minimal because school fees aren't what they are today. Yes, today even with the introduction of NELFUND the pressure has now tripled because tuition won't stop going up. What I'm saying in short is that, out reality is different from what we're seeing and what is being provided for us.
If the system can start working and be transparent, then I see nothing wrong is paying heavy taxes to clear students loans. There will even be joy in me knowing the exact reason why I'm paying am higher tax and seeing it put into very good use. But aside from that, another solution would be that the government cut down on this fees. Tuition fees are nothing to write home about today, how much is the minimum wage, how much is the government paying the workers and they expect those same people to get their children into school and pay such a hige amount of money for tuition. If the government can look into that, then it would be good, even the number of people who take loans will reduce, and in a working system those who do would definitely repay it back when they secure employment after graduation.
Students loans today are chains around the students neck, and I say that because those loans aren't really making things easier for them, were simply postponing their problem till later in life.
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