The Chief of Staff to the President of Nigeria, Rt. Hon. Femi Gbajabiamila said efforts are underway to ensure the take-off of the Students’ Loan Scheme in January 2024 to ensure that Nigerian students could fund their educational aspirations.
He said the Students’ Loan Application system will be such that there will be no interface between the loan administrators and the beneficiaries.
He made this known in Lagos on Friday while delivering the lecture “Empowering Nigerian Youths in the Present Day Economy” at the 35th convocation ceremony of Yaba College of Technology (YABATECH).
Gbajabiamila said that to make the process seamless, “applicants will apply online, be verified online and credited based on the verifiable documents and credentials they submitted.”
He said, “Nobody will need to know anybody to qualify for these loans so that access to this financing will be genuinely egalitarian.”
He added that, “The student loan system answers part of the question of how to fund a quality public tertiary education but doesn’t answer all of it. Any serious conversation about the future of tertiary education in Nigeria must include a thorough consideration of the ways and means of addressing the funding needs of public tertiary institutions beyond government subvention.”
President Bola Tinubu recently signed the Student Loan Bill into law.
Upon signing the bill, the President assured that no student would drop out of tertiary institutions over inability to pay their fees.
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