… As Online Learning Platform Debuts “Educollect” Soft Loan for Students
By Juliet Umeh
The quality of education in Nigeria has been in abysmal decline for several decades, posing challenges that successive governments have also failed to solve.
However, access to various public and private universities across the country is so difficult that a higher percentage of students seeking entry end up on the streets.
Nigerian institutions are said to lack adequate capacity to absorb even half of the students who drop out of high school each year.
All Nigerian universities are reportedly only able to absorb 10-15 percent of the number of students seeking admission per year.
So 85-90 percent of those not admitted end up with menial jobs or pose the threat of guys from the area; a notable group of street urchins who take advantage of the deterioration of the road infrastructure to unleash chaos among motorists and other road users.
However, just as technology intervenes in all sectors, experts have insisted on the need to seek the path of technology to rescue education, particularly in terms of capacity and access to quality education.
For example, throughout the world, e-learning is known to close the ability gap to access quality education, as qualified students who were never lucky enough to be admitted to mainstream institutions due to inadequate space now They boast of the same quality of education, with the same certificate, because they were taken advantage of the opportunity to study the same courses online.
In Nigeria, the e-learning platform EduTech said that the same situation is required in Nigeria, if only to stop the restlessness of young people, because most of the young people who should normally be in school are left behind. luck due to inadequate capacity.
EduTech does not just preach, it leads by example as it establishes the Center for Distance Learning at various universities in Nigeria. In fact, up to 200 students recently benefited from this center scheme at Obafemi Awolowo University, OAU, Ile Ife, Osun State.
EduTech General Manager Mr. Femi Shonubi said that the effectiveness of e-learning was demonstrated by two of OAU’s graduate students who ended up with first-class degrees, after four rigorous years of study that included practical and written exams. .
He said that in December 2019, EduTech recorded a double milestone when the first group of students from the BSc Accounting program at OAU graduated with three class members ending up with first-class degrees.
Shonubi said: “Since its inception in 2012, EduTech has partnered and implemented e-learning solutions for a wide spectrum of entities ranging from universities to corporate institutions, as it focuses on the objective of closing the gap between demand and access to quality education through the process of decentralization of the traditional learning method.
“We provide the learning environment and work in partnership with universities throughout the implementation process. We make sure we can create what you get in physical settings and make all of that available virtually.
“Our current partners include Ahmadu Bello University, ABU, Zaria; Obafemi Awolowo University, OAU, Ile-Ife; Babcock University, BU, Ilishan-Remo; the Chartered Institute of Bankers of Nigeria, CIBN, Lagos among others ”, he explained.
He pointed out that technology is capable of eliminating the barrier of access to education without limitations.
Financing of education
Meanwhile, Edutech not only provided an easy way for students to access a quality education, but also provided financing options for them to finish school.
With a project called EduCollect, the platform offers soft loans to students so that they exceed most of the financial requirements of the school.
Shonubi explained, “Educollect is the education finance gateway that aggregates funders to make loans to students from various academic institutions.
Created for both students and tutors, the product facilitates secure loans to allow students to continue their studies without the added pressure of massive upfront payments.
“As a pioneer in the Nigerian education finance space, EduCollect will provide unmatched access to short-term loans with a convenient repayment regime at some of the lowest interest rates on the market without any collateral. By following three simple steps, interested students can secure their education through EduCollect ”.
All Nigerian universities are reportedly only able to absorb 10-15 percent of the number of students seeking admission per year.