The Executive Secretary of the Student Loan Scheme Board, Akintunde Sawyer, announced on Monday that the Federal Government plans to create an app for student loan applications, aiming for a seamless process with zero human intervention.
This initiative aligns with President Bola Tinubu’s earlier statement that the scheme would kick off in January 2024, following discussions in Abuja.
“By January 2024, the new student loan must commence. To the future of our children and students, we are saying no more strikes,” Tinubu said in Abuja during the National Economic Summit 2023, assuring students that the era of incessant strikes is gone.
In commemoration of Nigeria’s Democracy Day on June 12, President Tinubu fulfilled a campaign promise by signing the student loan bill.
Sponsored by the current Chief of Staff to the President, Femi Gbajabiamila, the bill facilitates access to higher education for financially disadvantaged Nigerians through interest-free loans from the Nigerian Education Loan Fund. The funds, housed in the Ministry of Education, are exclusively accessible to indigent students in tertiary institutions.
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