By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NewsunplugNewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Reading: FG Set To Begin Giving Student Loans In September
Share
Notification Show More
Font ResizerAa
Font ResizerAa
NewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Search
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Have an existing account? Sign In
Follow US
Newsunplug > Blog > Metro > FG Set To Begin Giving Student Loans In September
MetroNews

FG Set To Begin Giving Student Loans In September

hammed
Last updated: June 14, 2023 8:43 pm
hammed Published June 14, 2023
Share
SHARE

The Federal Government says it is working out modalities to begin student loan between September and October 2023.

The Permanent Secretary, Federal Ministry of Education, David Adejo, disclosed this in Abuja on Wednesday while addressing newsmen on the bill signed by President Bola Tinubu.

It was reported that President Tinubu on Monday signed into law the Student Loan Bill in fulfilment of a promise he made during his campaign.

The student loan bill sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, provides for interest-free loans to indigent Nigerian students.

Adejo said the law would provide easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund.

The loan, he said, covers the loan students in private and public schools.

He said that president Tinubu had also approved a committee made up of ministries and agencies to see to the fruition of the loan scheme.

According to him, the bill is to make sure that every Nigerian has access to higher education through what we called the Higher Education Nigerian Bank.

“Learning from past mistakes, the bank is not going to be the type that will sit down and be collecting application loans.

“It will also perform normal banking functions and make sure loans are given because we had cases of loan recovery in the past.

“The Act as it is tells us the process, but as I speak with you today, the president has approved the committee made up of the ministries and agencies and their meeting will be coming up on June 20.

“The president has also directed that by September to October this 2023/2024 academic session, he wants to see recipients of these loans. So it is a very serious march for us so between now and then we have to phantom the process for people to get the loan,” he said.

The Permanent Secretary also said government would create a specialised bank for the operation of the loans, noting that there would be a tracking system for efficient smooth running of the loans scheme.

He said this would cover both students in Private and public schools, adding that the government would also create a new bank for it.

“We are not going to use existing banks. We are going to create a new bank that will address this because we can’t use an existing bank.

“We don’t want to make it that only people who wants to go to public schools will benefit from it, private schools are paying tuition so you have to give them the opportunity.

“The loan is for you to get an education programme and get employed, then you start paying back. The loan recovery does not start until you get employed”.

While commending president Tinubu for this stride said, he said,

“Our current president today is a job creator from his experience from the private sector and he has given us policy direction and job creation is one of the things he is going to do, even though you cannot create job for every body”.

NAN

You Might Also Like

Bandits kill two young men after collecting N2m ransom in Sokoto

Israel strikes Lebanon in response to cross-border rocket fire

Police Probe Killing Of Policeman By Soldier Over Indian Hemp In Borno

Ondo Commissioner For Infrastructure Resigns Over Akeredolu’s Death

Reps asks tertiary institutions to suspend academic activities for students to vote

Quick Link

  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
TAGGED:FGStudents Loan
Share This Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • BREAKING: Arsenal has officially completed the signing of a 30-year-old free agent striker, who scored 28 goals across all competitions last season. The player successfully passed his medical today and has signed a one-year contract with the Gunners. Congratulations to all Arsenal fans!
  • Victor Osimhen has already made Chelsea transfer feelings clear after Saudi Arabia decision
  • Vinicius Jr set to extend Real Madrid contract until 2030, earning €20m per season – reports
  • Kizz Daniel retrieves rights to his debut album ‘New Era’ from G-Worldwide
  • Saka to feature in much-changed England team against Senegal

Recent Comments

No comments to show.

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

Top Categories

  • Entertainment

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
© 2023 Newsunplug | All Rights Reserved.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?