The alumni association of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, has set up a scholarship scheme for indigent students of the institution.
The national president of the association, Solomon Onilede, stated this at the 12th annual lecture of the association themed: “State Universities and Funding: Intrigues” held at the institution on Tuesday
LAUTECH recently increased tuition fees from N63, 500 to N90, 000 for returning students who are indigenes of Oyo or Osun; and from N72,500 to N100, 000 for the other students.
The fees had initially been increased by over 100 percent leading to a students’ protest.
The governments of the two owner states of the university, Oyo and Osun, distanced themselves from the increment.
“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,” Mr Onilede said.
“There would be some of us who will screen them to ensure that we are dealing with typical indigent students.
“The 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.
Mr Onilede gave N1 million to the LAUTECH Alumni cooperative and investment scheme for members of the association who need financial assistance.
The president said members would be provided with a soft loan facility which would be repaid at the end of the year at no interest rate.
He said it became imperative for the association to lend a helping hand to members unable to bear their financial responsibilities in the light of the economic downturn.
Students of the institution who spoke with PREMIUM TIMES applauded the introduction of the scholarship scheme.
One of the students, Lawal Barakat, said: “The scholarship will help some of us whose parents cannot afford the hiked tuition. The alumni union has done well, we hope our colleagues will maximise this opportunity.”