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Details Of The Student Loan Bill Signed By President Tinubu

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President Bola Ahmed Tinubu had signed into law the student loan bill, which provides for interest-free loans to indigent Nigerian students.

the ‘Students Loan Bill, 2019, provide for easy access to higher education for Nigerians through interest-free loans from the Nigerian Education Fund.

The bill seeks to make access to higher education for Nigerians through interest-free loans from the Nigerian Education Fund established in this Act with a view to providing education for all Nigerians and for other purposes connected thereto.

The Bill seeks the establishment of the Nigerian Education Fund, domiciled with the Central Bank of Nigeria (CBN) from which qualified applicants can access education loans through the commercial banks in the country.

The loan referred to in this Act shall be granted to students only for the payment of Tuition fees. The grant of the loan to any student under this Act shall be subject to the students/applicant(s) satisfying the requirements and conditions set out under this Act.”

In keeping to his campaign promise, interest and quest in ensuring access to higher education, President Bola Ahmed Tinubu signed the legislation that will guarantee access to quality higher education by qualified Nigerians.

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