Student Loan Pilot Scheme To Commence In Public Institutions, Says FG

Student Loan Pilot Scheme To Commence In Public Institutions, Says FG

The Federal Government has announced plans to initiate a pilot phase of the student loan scheme, focusing on applicants from public tertiary institutions. Nasir Ayitogo, spokesperson for the Nigerian Education Loan Fund, revealed this shortly after President Bola Tinubu signed the amended Student Loan bill into law……READ ALSO Here Is Full Text Of Tinubu’s Speech After Signing Student Loan Bill

In an interview with The Punch, Ayitogo disclosed that the pilot scheme would kick off with students from federal and state universities, polytechnics, and colleges of education. President Tinubu is set to appoint a chairperson, managing director, and two executive directors to the executive management team of the loan scheme.

“With the President’s assent to the new bill, there will be a new management structure,” Ayitogo explained. “Before the implementation, those appointments will have to be in place.”

He further clarified that the pilot scheme would initially cover students in public institutions, including federal and state universities, polytechnics, and colleges of education. Applicants meeting the requirements will be eligible for the loan upon application.

The implementation of the scheme awaits the appointment of key officials by the President, including a chairperson, managing director, and executive directors, as outlined in the provisions of the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.

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