Federal Government Delays Launch of Student Loan Scheme

By Milcah Tanimu

The Federal Government has announced the indefinite postponement of the Nigerian Students Loan Scheme launch. This delay was conveyed by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, during an interview with Arise News on Tuesday.

Originally slated to commence on Thursday, the loan scheme faces another setback as Sawyer cited the need for corrections before its launch. He emphasized the importance of ensuring alignment among stakeholders to ensure a comprehensive and sustainable rollout.

The genesis of this loan scheme dates back to June 2023 when President Bola Tinubu signed a bill to establish a Students Loan Fund, offering interest-free loans for higher education. Initially scheduled for September to October 2023, the launch was delayed, and President Tinubu announced a revised start date of January 2024.

Preparations for the program, including the development of a dedicated website and planning for implementation, were reported to be complete by January. President Tinubu reiterated the commitment to launch the program during discussions with leaders of the National Association of Nigerian Students (NANS), highlighting plans to include additional features such as vocational studies.

However, with the postponement of the scheme once more, stakeholders eagerly await further updates on its rollout and implementation.


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