Connect with us

Hi, what are you looking for?

Politics

Senate passes Student Loan Act 2024

Senate

The Senate has passed the Student Loans Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.

The passage followed the consideration of a report of the Committee on Tertiary Institutions and Tertiary Education Trust Fund (TETFUND), presented by the Chairman representing Katsina South Senatorial district, Mohammed Muntari.

President Bola Tinubu had written to the Senate and the House of Representatives last week, seeking the repeal of the Student Loan (Access to Higher Education) Bill, and to enact a new one.

The new act will enhance the implementation of the Higher Education Student Loan Scheme by addressing challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources and disbursement and repayment procedures.

Tinubu’s action came after the announcement of a temporary suspension of the commencement of the student loan system. The law was put in place to allow Nigerian students in tertiary institutions to access low-interest loans to complete their studies.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ad

You May Also Like

News

Sen. Heineken Lokpobiri, Hon Minister Of State For Petroleum Resources have reiterated that he stands by his statement at The Petroleum Club’s quarterly event...

News

Zipline, the leading force in drone logistics delivery, has reached a monumental achievement with its one-millionth delivery to customers, signifying a significant leap forward...

Tech

The .ng domain name, Nigeria’s country code top-level domain (ccTLD), is the nation’s critical resource in the digital space, says Adesola Akinsanya, the president...

News

The AccounTech Summit, hosted by The Techy Accountant in partnership with the Association of Chartered Certified Accountants (ACCA), is a groundbreaking event designed to...