FCT, Abuja — The Federal Government announced that it will start a trial run of the student loan program with applicants from public universities and colleges.
The spokesperson for the Nigerian Education Loan Fund, Nasir Ayitogo, made the disclosure after President Bola Tinubu signed the revised Student Loan Bill into law.
Ayitogo mentioned that the trial phase will involve students from federal and state universities, polytechnics, and colleges of education.
He also mentioned that President Tinubu will appoint a chairperson, a Managing Director, and two Executive Directors to lead the program.
Ayitogo added that the President is expected to launch the program once qualified individuals are appointed to the positions outlined in the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.
He said: “Right now, with the President’s assent to the new bill, it means there will be a new management. There will be a managing director, as against what we had in the previous law, an Executive Secretary. And there will be two executive directors too.
“So, we await the President to make these fresh appointments before we can begin anything. Before the implementation, those appointments will have to be in place.
“There must be a Chairperson who will be appointed by the President.”
Ayitogo further explained that the new rule applies to students attending both public and private schools.
He said, “For the pilot scheme, it is just for public institutions.
“The target for this phase of the loan is students of federal and state universities, federal and state polytechnics, and federal and state colleges of education. Anyone who desires the loan will apply.
“When you need the loan, apply and you will get it if you meet the requirements.”
