BREAKING: Senate Passes Student Loan Bill

The Senate on Wednesday approved the 2024 Student Loan Access to Higher Education Act (Repeal and Re-Enactment) Bill sent by President Tinubu.

The new bill aims to improve the implementation of the Higher Education Student Loan Scheme by addressing issues such as the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility, loan purpose, funding sources, disbursement, and repayment procedures.

The resolution of the Senate followed its consideration of the report of the Senate Committee on Tertiary Institutions and TETFUND that considered the Bill.

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The chairman of the committee, Senator Muntari Dandutse (APC – Katsina South) presented the report during plenary.

President Bola Tinubu had last week transmitted the Bill to the National Assembly for its consideration and passage.