October 23, (THEWILL) – The Federal Government has said the implementation of the student loan initiative will commence in January 2024.
Nigeria’s President, Bola Tinubu, made this known on Monday while speaking at the 29th edition of the annual Nigerian Economic Summit at the Transcorp Hilton, Abuja.
The President had on June 12, 2023, signed into law the student loan bill, as part of a promise he made during the presidential campaign.
The law provides easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund, the Permanent Secretary had said.
Earlier, the Federal Government said it was putting all necessary measures in place to ensure the student loan scheme begins between September and October 2023.
Amid worries by parents and students over the delayed take-off of the scheme, President Tinubu, on Monday, said the loan will commence in January 2024.
“By January 2024, the new student loan must commence. To the future of our children and students, we are saying no more strikes.
“There must be a Consumer Credit Scheme, which will have to come into effect as soon as possible.
“We cannot talk about anti-corruption when you have to look for cash to buy a car when there’s no mortgage for homeownership,” he said
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