VCs predict student loans will lower cost of higher education.

The Student Loan Bill, which President Bola Tinubu signed into law, will make it easier for more students to afford tertiary-level public or private education, according to the Committee of Vice Chancellors and Registrars of Private Universities in Nigeria.

Prof. Kabiru Adeyemo, the vice chancellor of Lead City University and the chairman of the CVCRPUN, made these remarks at the general meeting of the committee, which took place at the university’s international conference centre in Ibadan, the capital of Oyo State.

According to Adeyemo, the loan would give poor students the chance to continue their academic careers at both private and public universities.

A result of unwavering dedication, commitment, and adherence to the highest standards of quality education, he claimed, private universities had recently experienced remarkable growth.

We must keep constructing on this base, aiming to foster an atmosphere that fosters critical thinking, intellectual curiosity, and a strong sense of social responsibility, he continued.

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“As vice chancellors and registrars, you hold important leadership roles and accept accountability for determining the future of our institutions and the students who enter their revered halls.

“We are grateful that President Bola Tinubu introduced the student loan. He approved that legislation, which, in my opinion, has benefits for both private and public universities.

Some of the students from low-income backgrounds would be able to take advantage of new financial opportunities to further their academic careers, making them a force to be reckoned with in the end.

Prof. Francis Igbasan, vice chancellor of McPherson University in Ogun State, claimed that private universities could boast of the best facilities, professors, and even students. According to him, undergraduate students frequently go on to become chartered members of the professions.

Vice chancellors and registrars from all over the nation attended the event, and more than 25 vice chancellors signed up for the programme online.