FG To Develop App For Student Loan Scheme Application

 FG To Develop App For Student Loan Scheme Application

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Months after Tinubu announced that the student loan scheme would kick off in January 2024, the development has finally materialized.

During the National Economic Summit 2023 in Abuja, Tinubu emphasized the commencement of the new student loan, assuring a future free from incessant strikes for children and students.

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In honor of Nigeria's Democracy Day on June 12, President Tinubu fulfilled his campaign promise by signing the student loan bill into law.

The bill, originally sponsored by Femi Gbajabiamila, now Chief of Staff to the President, ensures accessible higher education for economically disadvantaged Nigerians through interest-free loans from the Nigerian Education Loan Fund.

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To manage the funds for the program, the Ministry of Education will serve as the custodian, with only indigent students from tertiary institutions eligible to access these interest-free loans.

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This initiative marks a significant step towards addressing financial barriers to education in Nigeria.

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                                      WRITTEN BY ODUNAYO 

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