Nigerian Government to launch app for Student Loan Scheme Application
The Federal Government has announced its readiness to launch the Nigerian Education Loans Fund for students in tertiary institutions.
This was disclosed by the Executive Secretary of the Student Loan Board, Dr Akintunde Sawyerr, to State House correspondents today in Abuja stating that the scheme was to eliminate the challenges faced by Nigerian youths in accessing tertiary education due to lack of funding by their parents or guardians.
According to him, the loan is a statute-backed financial support provided to students for their education in both private and government institutions, allocated for long-term and short-term purposes.
President Bola Tinubu
He added that the loan would not only apply to students going to formal educational institutions but also to those going into technical, teaching and vocational schools. For accessibility and accountability, Sawyerr said the application procedure would be devoid of human interference so there would be an app, through which applicants will log into a portal to input certain pieces of information to ascertain their eligibility.
Similarly, Zaccheus Adedeji, Chairman of the Federal Inland Revenue Service, said that the scheme would be funded with the Education Tax under the Service. The loans, he said, would allow more youths to enjoy quality education in line with the campaign promises of President Bola Tinubu.
The Students Loan Act was the 2nd legislation signed into law by President Tinubu within two weeks of his assumption of office in May 2023.
Dolupo Balogun
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