Senate Passes Student Loan Bill | Apply Now!

Today, the Nigerian Senate passed the Student Loan Bill, Access to Higher Education, Act 2024 to facilitate access to tertiary education for Nigerian students.

The decision to pass the bill came after thorough consideration of the report presented by the Senate Committee on Tertiary Institutions and TETFUND, chaired by Senator Muntari Dandutse.

President Bola Tinubu had previously forwarded the bill to the National Assembly for deliberation and approval.

Recognizing the importance of the legislation, the Upper Legislative Chamber expedited its review process by waiving certain procedural rules and referring the bill to the Committee of the Whole for thorough examination.

Following extensive debate and analysis, Senate President Godswill Akpabio directed the bill to the Senate Committee on Tertiary Institutions and TETFUND for further legislative scrutiny.

The committee is expected to conduct additional assessments and submit its findings within one week.

The primary objective of the Student Loan Bill is to facilitate easy access to higher education for financially disadvantaged Nigerians.

Through the establishment of the Nigerian Education Loan Fund, as outlined in the Act, eligible students will have the opportunity to obtain interest-free loans to pursue their academic aspirations.

This progressive initiative underscores the government’s commitment to promoting inclusive education and ensuring that all Nigerians have equal opportunities to access quality tertiary education.