fbpx
Connect with us

Education

BREAKING: President Tinubu Signs Student Loans Amendment Bill Into Law

President Bola Tinubu signs the amendment bill for National Student Loans into law, marking a pivotal moment for Nigerian education.

Published

on

student loans
President Bola Ahmed Tinubu

President Bola Tinubu signs the amendment bill for National Student Loans into law, marking a pivotal moment for Nigerian education.

The bill addresses challenges in the Higher Education Student Loan Scheme, enhancing access to low-interest loans for students’ academic needs.

President Bola Tinubu has made a significant move by officially approving and signing the amendment bill for National Student Loans into law.

VerseNews reports that the historic signing took place at the Aso Rock Presidential Villa on Wednesday, April 3, 2024.

Advertisement

This development marks a crucial step forward in addressing the challenges faced by Nigerian students in accessing affordable financing for their education.

This Online News Platform understands that the decision to amend the Student Loan Access to Higher Education Act (Repeal and Re-Enactment) Bill, 2024, follows the successful passage of the bill by the Senate in March 2024.

The Senate’s action was preceded by thorough consideration and the adoption of a report presented by the Senate Committee on Tertiary Institutions and Tertiary Education Trust Fund (TETFund), chaired by Senator Muntari Dandutse (APC, Katsina South), during a plenary session.

It is worth noting that the bill had undergone a rigorous legislative process, including deliberations at the second reading stage in both the Senate and the House of Representatives.

Advertisement

President Tinubu, in alignment with his commitment to education reform, had personally written to both legislative chambers, urging the repeal of the existing Student Loan (Access to Higher Education) Bill and the enactment of a new one to address prevailing challenges effectively.

The amended Act is poised to revolutionize the implementation of the Higher Education Student Loan Scheme, tackling issues related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility criteria, loan purpose, funding sources, as well as disbursement and repayment procedures.

President Tinubu’s proactive stance underscores his dedication to improving access to quality education and fostering academic excellence across Nigeria.

This milestone comes amidst the temporary suspension of the student loan scheme, as announced earlier. However, with the enactment of the amended bill into law, renewed hope emerges for Nigerian students pursuing higher education.

Advertisement

The law seeks to empower students in tertiary institutions by providing access to low-interest loans tailored to cover tuition fees and other academic expenses, thereby easing the financial burden on students and their families.

whatsapp

Stay ahead with VerseNews. Get the latest breaking news, insightful analysis, and trending stories. Your go-to source for timely updates and unbiased reporting.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

WATCH: Nigeria Newspaper Headline Today

Apply For Latest Job Openings

Trending

JUST IN: FG Bans Money Ritüal, Smöking, Crime Scenes In Nollywood Films JUST IN: FG Bans Money Ritüal, Smöking, Crime Scenes In Nollywood Films
Entertainment1 hour ago

JUST IN: FG Bans Money Ritüal, Smöking, Crime Scenes In Nollywood Films

The Federal Government of Nigeria has approved regulations prohibiting the depiction of money rituals, ritual killings, tobacco use, and other...

I'm Obsessed With Ayra Starr - Tiwa Savage I'm Obsessed With Ayra Starr - Tiwa Savage
Entertainment4 hours ago

I’m Obsessed With Ayra Starr – Tiwa Savage

Tiwa Savage recounted facing heavy criticism for her "sexy" style and "risky" lyrics early in her career, and praised Ayra...

Late Access Bank CEO’s varsity, Wigwe University Announces Resumption Date, Tuition Fee Late Access Bank CEO’s varsity, Wigwe University Announces Resumption Date, Tuition Fee
Education1 week ago

Late Access Bank CEO’s varsity, Wigwe University Announces Resumption Date, Tuition Fee

Wigwe University, founded by the late Herbert Wigwe, will launch in August 2024 in Isiokpo, Rivers State, offering programs across...

7 Inspiring Facts About Eagles That Will Motivate You Every Day 7 Inspiring Facts About Eagles That Will Motivate You Every Day
Lifestyle1 week ago

7 Inspiring Facts About Eagles That Will Motivate You Every Day

Discover the inspiring qualities of eagles that can motivate you every day, from their exceptional vision and fearlessness to their...

Tacha Reveals Cost Of Her Outfit At AMVCA 2024 Tacha Reveals Cost Of Her Outfit At AMVCA 2024
Entertainment1 week ago

Tacha Reveals Cost Of Her Outfit At AMVCA 2024

Former BBNaija star Tacha reveals her $100k outfit for AMVCA 2024, sparking mixed reactions online, adding to her reputation as...

When Is It Wrong To Say "I'm Sorry" In A Relationship? When Is It Wrong To Say "I'm Sorry" In A Relationship?
Relationship1 week ago

When Is It Wrong To Say “I’m Sorry” In A Relationship?

Saying "I'm sorry" in a relationship is crucial but can be damaging if overused, used manipulatively, or when one hasn't...

Tinubu’s Government To Borrow Fresh N3.35trn ($2.25bn) From World Bank Tinubu’s Government To Borrow Fresh N3.35trn ($2.25bn) From World Bank
Politics1 week ago

Tinubu’s Government To Borrow Fresh N3.35trn ($2.25bn) From World Bank

President Tinubu's government is set to secure a $2.25 billion loan from the World Bank, with exceptionally favorable terms including...

I Was Offered Money To Impeach Fubara - Rivers Governor's Aid, Ehie Confesses I Was Offered Money To Impeach Fubara - Rivers Governor's Aid, Ehie Confesses
Politics1 week ago

I Was Offered Money To Impeach Fubara – Rivers Governor’s Aid, Ehie Confesses

Edison Ehie, Chief of Staff to the Rivers State Government, alleged he was offered money to impeach Governor Siminalayi Fubara...

Minister Of Power Distributes 10,000 Bags Of Rice In Oyo State As Part Of Tinubu's Renewed Hope Agenda Minister Of Power Distributes 10,000 Bags Of Rice In Oyo State As Part Of Tinubu's Renewed Hope Agenda
News1 week ago

Minister Of Power Distributes 10,000 Bags Of Rice In Oyo State As Part Of Tinubu’s Renewed Hope Agenda

Minister of Power, Adebayo Adelabu distributed rice in Oyo State to various groups, stressing its non-political nature and pledging transparent...

Nigerians Call For Arrest Of Man Accused Of S3xualizing And Using Photos Of 4-Year-Old Girl For P*rnography (Video) Nigerians Call For Arrest Of Man Accused Of S3xualizing And Using Photos Of 4-Year-Old Girl For P*rnography (Video)
Entertainment1 week ago

Nigerians Call For Arrest Of Man Accused Of S3xualizing And Using Photos Of 4-Year-Old Girl For P*rnography (Video)

Going viral on various social media is the report of a Nigerian dad Musa Suleman Defunnytv who posted posters of...

Advertisement