FG gives date for disbursement of student loan

The Federal Government announced on Wednesday that it is putting the finishing touches on the procedures for the disbursement of student loans, which is anticipated to start between September and October 2023.

David Adejo, the Permanent Secretary of the Federal Ministry of Education, revealed this to reporters in Abuja while discussing the new Student Loan Act.

DAILY POST recalls that President Tinubu on Monday signed into law the Student Loan Bill in fulfilment of a promise he made during his campaign.

The bill, sponsored by Femi Gbajabiamila, Speaker of the 9th House of Representatives, provides needy Nigerian students with interest-free loans.

According to Adejo, the bill will ensure that every Nigerian has access to higher education through the Higher Education Nigerian Bank.

“We are not going to use existing banks. We are going to create a new bank that will address this. Learning from past mistakes, the bank is not going to be the type to sit down and collect application loans. It will also perform normal banking functions and make sure loans are given because we have had cases of loan recovery in the past,” he said. No

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