ASSESSING THE POTENTIAL IMPACT OF INTEREST-FREE STUDENT LOAN PROGRAM ON ACADEMIC PERFORMANCE: A PRE-IMPLEMENTATION STUDY
Mubarak Abdulsalam, Sunusi Saad Ahmad , Umar Salim Ibrahim and Babagana Abba
Volume 5 Issue 2
Abstract
The general objective was to assess the potential impact of interest-free student loans on academic performance, focusing on the pre-implementation period. The study employs a cross-sectional survey design, utilizing questionnaires and interviews for data collection. The sample comprises students from Federal University Dutse and Bayero University Kano, with a total of 60 participants. Results indicate a significant positive relationship between interest-free student loans and academic performance. Additionally, socioeconomic backgrounds do not exert a significant influence on this relationship. The study identifies challenges such as accommodation expenses, fair access, and administrative complexities, alongside opportunities like effective communication strategies. The findings suggest that interest-free student loans can positively transform access to education, but strategic interventions are needed to address challenges. The conclusion emphasizes the need for continuous commitment to program optimization and inclusivity. Recommendations include targeted interventions for identified challenges and ongoing support for successful implementation. Finally, suggestions for future research propose exploring the post-implementation period to assess the long-term effects of interest-free student loans on academic outcomes. Keywords: Student Loan, Interest Free Loan, Academic Performance and Long Term Financial Planning
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