The Student Loans Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024 has been passed by the Nigerian Senate.
This followed the consideration of a report of the Committee on Tertiary Institutions and Tertiary Education Trust Fund (TETFUND), presented by the Chairman who is also the senator epresenting Katsina South, Sen. Mohammed Muntari.
A week ago, President Bola Ahmed Tinubu wrote to the Senate and the House of Representatives, seeking the repeal of the Student Loan (Access to Higher Education) Bill, and to enact a new one.
The new act, according to the President will enhance the implementation of the Higher Education Student Loan Scheme, by addressing challenges that may arise in the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources and disbursement and repayment processes.
This was after the temporary suspension of the take-off of the student loan scheme.
However, the Executive Secretary of the Tertiary Education Trust Fund, Sonny Echono promised on behalf of the Federal Government that the scheme will take-off in the coming weeks.
