President Bola Tinubu, in Abuja on Monday, signed the Student Loan Bill into law, fulfilling one of his campaign promises to expand funding options for education. The bill, which is Tinubu’s second legislation since assuming office, will provide indigent students with access to interest-free loans. Sponsored by Speaker Femi Gbajabiamila, the bill passed the third reading in the House of Representatives on May 25, 2023…CONTINUE READING>>>....CONTINUE READING
The new law mandates prospective beneficiaries to demonstrate their origin. The signing of the bill aligns with global standards and will facilitate easier access to education. While the bill takes immediate effect, application procedures will be determined by the committees overseeing the process.
The Academic Staff Union of Universities (ASUU) expressed concerns about the bill, citing its discriminatory nature and potential debt burden on students from low-income backgrounds.
The National Association of Nigerian Students (NANS), however, viewed the bill as a positive step for the education system, while raising questions about repayment terms and job availability for graduates.
Former Deputy Vice-Chancellor Prof Ini Uko commended the initiative, highlighting the need to shift away from sole reliance on government funding and suggesting that tuition fees may rise as a result…CONTINUE READING>>>