25

Mar

National Assembly Passes Student Loan Bill, Proposes Jail For Defaulters.

The National Assembly, on 20th March, passed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024. This occurs subsequent to distinct deliberations conducted by the Senate and the House of Representatives regarding the Committee on Tertiary Institutions report and TETFund. In a letter to the Senate, President Bola Tinubu requested the repeal of the current law and introduced a new bill for enactment. This appeal was made one day following the declaration of a provisional halt to the implementation of the student loan program, which had been designed to grant tertiary institution students interest-free loans for […]

06

Mar

President Tinubu Set To Launch Students Loan Scheme, Application App Ready.

In accordance with his campaign pledge, President Bola Tinubu is scheduled to inaugurate the Students Loan Scheme this week, barring any unforeseen circumstances. The government-engaged IT specialists have concluded testing on the student loan application, which is now operational. It is worth noting that the Access to Higher Education Act, 2023, was ratified by President Tinubu on June 12, 2023. This legislation grants interest-free financing to economically disadvantaged students who wish to pursue higher education at any Nigerian tertiary institution. The action was taken to “fulfill one of his campaign promises to liberalize education funding,” according to a member of[…]