As part of measures to alleviate the burden of attaining tertiary education as well as create a pool of funds to be accessed, Prince ADEBAYO Kayode, has said that plans are already being concluded to roll out interest free loan for students of Iresa-Adu origin studying in Nigerian universities and polytechnic across the country.
The gesture according to the royal prince popularly known as Adebayo of Iresa, was part of his commitment to human capacity development in his area which he said, is expected to be a catalyst for the socioeconomic transformation of Iresaland in Ogbomoso geopolitical zone.
A statement by Prince Adebayo who is the Founder and Chairman, Iresa Royal Foundation, a non governmental organization, made available to journalists on Wednesday December 13 indicates that the Students Relief Loan program includes all undergraduate and postgraduate students of Iresa-Adu extraction studying in various tertiary institutions in Nigeria.
In order to achieve a transparent process that would engender a fair and just selection process for eligible candidates, Prince Adebayo disclosed that a 10-man Committee has been set-up to ensure a transparent and accountable process. The members of the committee made up Elders, High Chiefs, Religious Leaders, and Community Leaders, shall be responsible for the authentication and clearance of candidates for the approval of the Loan.
He said applicants for the Students Relief Loan are expected to visit www.iresaroyal.com and submit a filled out online application form with requisite requirements as indicated on the application form.
While describing the commitment of the present government under Governor Seyi Makinde towards qualitative education as commendable and laudable, the Prince noted that each student will be able to access the interest free loan up to fifty thousand naira and are only expected to start refunding the loan upon securing jobs after graduation.
He stressed that the aim of providing the student free relief loan for Iresa-Adu indigenes is to compliment efforts of the Seyi Makinde led government in its support for students of Oyo state extraction across Nigerian universities through bursaries and scholarship programs.
He added that such relief loan would enable students of Iresa-Adu continue their education feeling relieved from the burden of financial crunch imposed on them by the current economic hardship in the country occasioned by the removal of fuel subsidy and floating naira-dollar exchange rate.
The Prince maintained that education remains the key proponent to human emancipation from the shackles of poverty and ignorance stressing the need to create an financial access for students seeking tertiary education at both undergraduate and postgraduate levels.
“Education is a key proponent to emancipate our people from the shackles of economic hardship. We cannot continue to allow our youths to languish in poverty out of incapacity to further their education. This is the reason we have decided to tackle this setback from the grassroot”.
“For sustainability and to make re-payment easy for beneficiaries, the loans are to be paid back when the beneficiaries secure a job after graduation, and the loans paid back will be subsequently available for the next generation of students to benefit from.
“The ‘Students Relief Loan’ program will set to take off December 2023, and disbursements will be readily available as soon as beneficiaries complete the application process and approval.
“In a bid to make the application process transparent and easier to access, applicants are expected to complete their applications via www.iresaroyal.com.
“The digitalization of this process is part of our innovative drive which we expect our youths to adapt to and as the world is advancing in modern technological trends, our future scholars should become acquainted with digital concepts, as against the old analogous ways.
“Iresa Royal Foundation have organised and executed various programmes in a bid to aid economic growth, ranging from COVID-19 palliative, to financial aids, empowerment programs, sport tournaments, and many more which can be found on the foundation’s website.