The law is to provide easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund.
President Bola Tinubu has fulfilled his campaign promise by officially approving the Student Loan Bill. The announcement was made on Monday by the Federal Government’s spokesperson, Mr. Dele Alake. The funds allocated for this purpose will be managed by the Ministry of Education and will exclusively benefit financially disadvantaged students in tertiary institutions.
The Student Loan Bill, initiated by Speaker Femi Gbajabiamila of the 9th House of Representatives, has successfully passed its third reading in the House two weeks ago. Under this legislation, indigent Nigerian students will have access to interest-free loans from the Nigerian Education Loan Fund, aiming to facilitate their pursuit of higher education.
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