The Federal Government plans to introduce the student loan scheme gradually, with the initial rollout targeting federal institutions, as disclosed by Akintunde Swayerr, the Managing Director of the Nigerian Education Loan Fund, during an interview with Arise Television.
The application portal for student loans is set to go live on May 24th, with an ongoing campaign to educate the public about the program’s mechanics.
Swayerr emphasized the scheme’s aim of bridging the financial gap for Nigerian students, ultimately empowering them to contribute meaningfully to society.
President Bola Ahmed Tinubu signed a landmark act on April 3, 2024, paving the way for this initiative, which covers tuition fees for tertiary education and vocational training, along with providing student upkeep.
Regarding implementation, Swayerr outlined a phased approach, prioritizing public institutions initially due to their high student enrollment and financial need. The overarching goal is to ensure nationwide coverage and equitable access for eligible students across the country.
