The Federal Government has announced that federal institutions will be the first beneficiaries of the student loan scheme, which will commence next week.
The student loan scheme announced by President Bola Tinubu's government is set to commence on May 24th. Providing an update on the initiative, the Managing Director of the Nigerian Education Loan Fund, Akintunde Swayerr, noted that the loan will be rolled out in phases.
Swayerr, who spoke in an interview with Arise Television on Friday, confirmed that the loan application portal would be opened on the 24th of May, as previously declared. He stated that the government has made arrangements for a sensitization campaign to educate Nigerians on the workings of the scheme.
The MD further explained that the student loan scheme aims to bridge the financing gap for Nigerian students, enabling them to become more resourceful and eventually contributing to the development of the country. He mentioned that on April 3rd, 2024, President Bola Ahmed Tinubu signed into law a significant act that seeks to facilitate access to higher education and vocational training for applicants, ultimately making them more employable and beneficial to Nigerian society.
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