President Bola Ahmed Tinubu, on Monday, signed into law the Students’ Loan Bill passed by the National Assembly, in fulfilment of a promise he made during his campaign.
A statement by Dele Alake, spokesperson to the federal government, said the funds will be domiciled in the Ministry of Education and will only be accessed by indigent students of tertiary institutions.
According to him, the law is to provide easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund.
The students’ loan bill was sponsored by the outgoing Speaker of the House of Representatives, Femi Gbajabiamila, and it provides for interest-free loans to indigent Nigerian students.
