Student Loans: A Good Idea in the Wrong Country
When it comes to loans, I am someone who has benefited from loans. I wonder why people think loans are a bad idea.
I started my journey with a loan, and it helped me. If not for the loan I took in the past, I am not sure I would be where I am today because the loan boosted my speed.
Even though I like taking loans, I take them for meaningful purposes, like something that will give me more so I can pay the loans off easily.
Regarding student loans, if we are in a country that works, student loans are a very good thing that can help the less privileged afford going to school. Unfortunately, Nigeria is far from that. I believe when the government gives student loans, they should also provide the students with jobs after they graduate so they can pay back the loans, but that is not the case in Nigeria.
So many jobless graduates are out there, and this has even discouraged many people from going to school because now it seems education is no longer the key to success.
So, for a country where, when you are done with school, there will be no good-paying job, how are the debtors supposed to pay the loans they took? Not to forget the interest on the loans.
So, in my own opinion, student loans are a bad idea in Nigeria specifically.
It is even worse when they try to increase the tax people pay to offload the debt of the students. Why should I be the one to pay off their student loans? Why should my tax suddenly increase because some people want to go to school? Why cannot the government reduce their monthly income and channel it towards the debt? Why must the citizens be the ones to always suffer for something that can be easily done by the government?
The citizens' money is being embezzled. Today, you will hear they caught a politician who looted billions of Naira. Some built many houses that they do not need and never even see. They just keep wasting the money, yet they want the citizens to keep paying for things they could have used the money they embezzled to do.
As of last year, the government wanted the citizens to start paying 20 percent tax, but it seems they have suspended it for now because they know what will happen if they implement such an absurd law when citizens are suffering.
No way I am paying for any student loan. The government should cover that! It is their responsibility...Moreover we the citizens we have done our part by paying our tax, the government should know the best way to use part of the tax we are paying to settle those debt instead of imposing a direct tax on debt settlement on us...
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Loan is not a bad thing as long as you have a plan how to repay it at most of the people take loan when they face crisis without having any suitable plan and its not a good thing. Student loan is good in my opinion but there are many requirement to make it successful and helpful for student.