FG begins student loan disbursement September

The Federal Government says it is working out modalities to begin the disbursement of student loans in September 2023.

The Star recalls that President Bola Tinubu signed the Student Loan Bill into law on Monday, June 12.

The bill will enable students across the country to access loans at interest-free rates.

Speaking with journalists in Abuja on Wednesday, June 14, the Permanent Secretary at the Federal Ministry of Education, David Adejo, said Tinubu has directed that the first recipients of the loan must be available for the 2023/2024 academic session.

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Adejo said: “The president has approved the committee made up of the ministries and agencies and their meeting will be coming up on June 20.

“The president has also directed that by September to October of this 2023/2024 academic session, he wants to see recipients of these loans. So, it is a very serious march for us.

“So between now and then, we have to phantom the process for people to get the loan.”

He stated that indigent students would have easy access to higher education through interest-free loans from the Nigerian Education Loan Fund, adding: “The bank is not going to be the type that will sit down and be collecting application loans.”

The Star