Barely 48hrs to the anticipated take-off of the Student Loan Scheme by President Bola Ahmed Tinubu – GCFR, Nigerians find themselves in a situation that has always repeated itself under every administration. The Student Loan Scheme has been suspended indefinitely by the government of the day.
This was disclosed by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer on Tuesday.
Less than a week ago, Nigerians have been made to believe that the Scheme would eventually take-off on Thursday, 14th of March 2024 after several postponement by the FG.
President Bola Tinubu had signed a bill to start a Students Loan Fund that would give interest-free loans to Nigerians for higher education in June 2023 with a promise to get it working barely 3-months later.
After missing the October deadline, the President revealed to Nigerians to prepare for a January 2024 launching. In January, Minister of State for Education, Yusuf Sununu, said at a meeting that preparations for the program were finished, and this included making the Student Loan Scheme website and planning how to start the programme.
Speaking on the suspension, Sawyer said “Unfortunately, I won’t be able to commit to a specific date. We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can actually roll this out in a meaningful, comprehensive, wholesome and sustainable way.”
It remains to be seen when the Student Loan Scheme which many stakeholders do not have faith in its running will take off.