The Nigerian Education Loan Fund, on Wednesday, said it would begin a pilot phase of the student loan scheme with applicants from public tertiary institutions.

This includes students of federal and state universities, polytechnics and colleges of education.

It also expects President Bola Tinubu to soon appoint a chairperson, a Managing Director and two Executive Directors as part of its executive management team.

The spokesperson for the Fund, Mr Nasir Ayitogo, affirmed this to our correspondent on Wednesday, citing the provisions of the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, which Tinubu signed into law, on the same day.

Ayitogo noted that the President was expected to launch the scheme after appointing qualified persons into the offices provided by the new law.
The executive bill was titled “A Bill for an Act to Repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact the Student Loans (Access to Higher Education) Bill, 2004 to Establish the Nigerian Education Loan Fund as a Body Corporate to Receive, Manage and Invest Funds to Provide Loans to Nigerians for Higher Education, Vocational Training and Skills Acquisition and for Related matters.”

It was signed in the presence of the leadership of the National Assembly, ministers and major stakeholders in the education sector.

April 4, 2024

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