Following the increment of tuition fee at Ladoke Akintola University of Technology (LAUTECH), the alumni association of the institution has inaugurated a scholarship board for indigent undergraduates students.
This was disclosed by the National President of the association, Solomon Onilede, at the 12th annual lecture of the association themed: “State Universities and Funding: The Intrigues” which held at the institution on Tuesday
The institution increased its fees from N63, 500 to N90, 000 for returning indigene students and from N72,500 to N100, 000 for non-indigene students.
Mr Onilede said the scholarship would be financed by the committee’s members’ private money while emphasising that money in the association purse would not be tampered with.
“The beneficiaries of this scholarship are strictly going to be indigent students who are on the verge of dropping out due to their over-concentration on work at the expense of their studies. There would be some of us who will screen them to ensure that we are dealing with typical indigent students.
“The basis for selection would not only be based on the fact that a student is indigent but also must be seen as having potential. Reasonable academic performance is also important. Students, who feel they are having issues with their finances should approach members of the committee who are on this campus to let us know of their situation,” he said.
In the same vein, he gave 1million Naira to the Lautech Alumni cooperative cum investment scheme for members of the association who are financially down.
The president said that members would be furnished with soft loans facility which would be repaid at the end of the year at no interest rate.
Mr Onilede said that it became imperative for the association to lend a helping hand to their members who became incapacitated to bear financial responsibilities in the light of the economic downturn.
Reacting to this, students of the institution who spoke with our correspondent applauded the development.
One of the students, Lawal Barakat said: “the scholarship will help some of us whose parents cannot afford the hike tuition. The alumni union has done well, we hope our colleagues will maximise this opportunity”.
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