In a bid to assist indigent students of Adeyemi College of Education, Ondo solve their problems of late or non-registration during 2017/2018 academic session, Management of the College has set up a Student Welfare Loan Scheme.
According to the Provost of the College, Professor Olukoya Joseph Ogen, the scheme is targeted at indigent students or students from low socio-economic background in the College, maintaining that it has abrogated the N10,000.00 late registration fee being paid by students.
According to the Provost, “a Student Loan Scheme Unit has been created in the Bursary Department under the Deputy Bursar, Expenditure Control”
He added that the Unit is “saddled with the responsibility of coordinating the loan scheme, working closely with the Student Loan Committee, Management Information System, the beneficiaries as well as maintaining relevant books of accounts and records.”
He stated that the College Community and all parents are to note that “this unique interest-free Student Loan Scheme is targeted at our indigent students.”
He revealed that the scheme is to ensure that “no student of Adeyemi College of Education is denied the opportunity for registering for courses, attending lectures and sitting for their examinations.”
The scheme, apparently the first by any higher institution in Nigeria in recent times, takes into consideration the harsh economic realities in the country and the hardship being faced by parents and students.
The loan entails indigent applicants filling application form online, including a guarantor’s form, at no cost. The guarantor is expected to be a salary earner and the loan is to be paid back in four installments of 30%, 20%, 25% and 25% during the academic session.
“Management therefore solicits the cooperation of all and sundry especially the managers and potential beneficiaries of the loan scheme to ensure that this unique privilege is not abused so that Management will not be forced to jettison the programme and revert to the status quo,” he maintained.