FG, SET TO GIVE OUT LOAN TO NIGERIAN STUDENT

 

The Federal Government says it is working out modalities to begin students loan between September and October 2023.⁣

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The Permanent Secretary, Federal Ministry of Education, David Adejo, disclosed this in Abuja on Wednesday while addressing newsmen on the bill signed by President Bola Tinubu.⁣
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NAN reports that President Tinubu on Monday signed into law the Student Loan Bill in fulfilment of a promise he made during his campaign.⁣
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The student loan bill sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, provides for interest-free loans to indigent Nigerian students.⁣
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Adejo said the law would provide easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund.⁣
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The loan, he said, covers the loan students in private and public schools.⁣
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He said that President Tinubu had also approved a committee made up of ministries and agencies to see to the fruition of the loan scheme.⁣
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According to him, the bill is to make sure that every Nigerian has access to higher education through what we called the Higher Education Nigerian Bank.⁣
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“Learning from past mistakes, the bank is not going to be the type that will sit down and be collecting application loans.⁣

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