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| Student loans to commence with federal entities — Nigerian government |
Akintunde Swayerr, the Managing Director of the Nigerian Education Loan Fund, revealed in an interview with Arise Television on Friday, which DAILY POST monitored, that the student loan application portal is set to open on May 24th for submissions.
The Nigerian Government has announced that the student loan program will commence in stages, starting with federal entities.
Akintunde Swayerr, the Managing Director of the Nigerian Education Loan Fund, revealed in an interview with Arise Television on Friday, which DAILY POST monitored, that the student loan application portal is set to open on May 24th for submissions.
He also mentioned that the government is in the middle of a sensitization drive to educate Nigerians about the operation of the scheme.
Swayerr detailed that the loan program aims to close the financial gap for Nigerian students, making them more productive and ultimately benefiting the nation.
“President Bola Ahmed Tinubu enacted a significant law on April 3rd, 2024, designed to close the financial gap for those seeking higher education at the tertiary level.
"...and for those pursuing vocational training to acquire proper qualifications, making them more employable and valuable to the Nigerian community.
The fund encompasses the full cost of tertiary institution fees and includes maintenance for the student,” he stated.
Swayerr emphasized that this initiative will be implemented in stages, with public institutions being the first due to the high number of students in need of financial support.
"The rollout of this plan will occur in stages. The initial phase will involve federal institutions, followed by others. Initially, it will focus on the public sector, where the majority of financially needy and vulnerable students are found.
We aim to establish a system that ensures nationwide coverage and a fair chance for all who have the ambition, capability, and qualifications to participate in this scheme," he explained.
