Students Loans Amendment Act: Senate Begins Reconsideration - EDU-BIZNEWS


Thursday, March 14, 2024

Students Loans Amendment Act: Senate Begins Reconsideration

Nigerian Senate has begun reconsideration of the Students Loans  
Access to Higher Education Act (Repeal and Enactment) Bill, 2024

The bill on Thursday, during plenary  inside the Senate's chamber in Abuja, scaled through the second reading 

Edu-Biznews recalls that President Bola Ahmed Tinubu had earlier sent the bill  to the Senate seeking the repeal of the existing law, guiding the operations of the loan scheme for students in tertiary institutions across the country 

This request comes a day after the announcement of a temporary suspension of the commencement of the student loan scheme which would allow students of tertiary institutions access interest-free loans to complete their studies.

Senator Sani Musa, during plenary, suggested that a percentage from bank charges be deployed to the student loan fund to ensure sustainability.

The passage of the bill followed a debate by several lawmakers who lauded the executive bill which also seeks to address challenges relating to the management structure of the Nigerian Education Loan Fund (NELF), applicants’ eligibility requirements, loan purpose, funding sources and disbursement.

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