Implications of student loans on Japa Syndrome in Nigeria
The Japa Syndrome epidemic in Nigeria can be mitigated with the use of student loans. The Japa Syndrome refers to the trend of highly educated people emigrating to Japan from other countries. For Nigeria and other emerging nations, the loss of qualified employees may be a significant impediment to economic progress and development. Here are five ways in which Nigerian student loans might assist bring down rates of Japa Syndrome:
First, student loans are a great resource for financing a college degree. The high cost of tuition and living expenses makes higher education unattainable for many students in Nigeria. These students would not be able to afford higher education without access to loans, which would allow them to gain the education and experience they need to help their country progress.
Second, having access to a loan might encourage graduates to remain in Nigeria. A large percentage of international students never return home after attending university abroad. Nigerian students who get loans are more likely to complete their studies and remain in Nigeria, where they may make a positive impact on the economy.
Third, students in Nigeria might take advantage of student loans to enter in-demand professions. Due to a lack of opportunities, many educated Nigerians have left the country. Students in Nigeria are more likely to obtain gainful jobs after receiving loans to study in high-demand sectors like engineering and healthcare.
Fourth, with the right kind of financing, a student may launch their own company. Many professionals leave Nigeria to establish their own firms abroad. Giving students loans to establish enterprises in Nigeria increases the likelihood that they would complete their education and remain to contribute to the country’s economic development.
Lastly, student loans might encourage patriotism among Nigeria’s youth. Many educated Nigerians leave the nation because they believe their expertise is underappreciated. Giving loans to students who plan to have a positive impact in Nigeria increases the likelihood that they would remain there after graduation. Finally, student loans have the potential to be an effective means of combating Japa Syndrome in Nigeria.
Nigeria can keep its talented employees and keep growing and developing if it provides loans to students who want to go to college, stay in Nigeria after graduation, go into sectors that are in great demand, start their own enterprises, and develop a sense of devotion to the country.
