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From Fred Ezeh, Abuja
Barring any unexpected development, President Ahmed Bola Tinubu, will on Wednesday, launch the student loan scheme, thus heralding the commencement of the implementation of the programme.
The president had a few weeks ago approved N35 billion for the student loan scheme take-off, targeting 70,000 applications and another 50,000 applications that were awaiting approval as of a few weeks ago.
The Governing Board of the Nigerian Education Loan Fund (NELFund) led by the Chairman, Mr. Jim Ovia, had, at its inaugural meeting in Abuja, last month, approved the disbursement of student loan to successful applicants.
NELFund in a statement noted that, “by approving the immediate disbursement of the loans, it has taken a critical step in fulfilling its mission to support education and empower the next generation of leaders.
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“The inaugural meeting also set the stage for future initiatives aimed at enhancing educational opportunities and providing comprehensive support to students across various disciplines.”
No fewer than 1.2 million students are expected to benefit from the first phase of the programme that was designed to provide financial support, including school fees and stipends, to eligible students nationwide in recognition of the pivotal role education plays in driving socio-economic progress.
NELFund had stated that the student loan, a flagship programme of President Tinubu, is a cornerstone of the administration’s commitment to democratizing access to higher education, and empowering Nigerian youths with the tools they need to succeed in the dynamic global landscape.
It added that students from Federal Government-owned institutions are expected to be first part-takers of the first phase of the application, while students in state-owned institutions would join later in the second phase.
