Federal Government has assured that the disbursement of the student loan will start from September and October 2023.
David Adejo, permanent secretary at the federal ministry of education, who announced the development while answering questions from journalists in Abuja, also disclosed that modalities are being worked out for effective implementation.
“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, their meeting will be coming up 20th of June”.
President Bola Tinubu had on Monday signed the bill to give students access to interest-free loans to promote education opportunities in the country.
Adejo said “The president has also directed that by September to October of this 2023/2024 academic session, he wants to see recipients of these loans”.
“So, it is a very serious march for us. Between now and then, we have to phantom the process for people to get the loan.”
Mr Adejo explained that the loan is for completion of higher education and the repayment plan is after a beneficiary secures job after the compulsory one year service.
The Permanent Secretary added that the interest free loan is not for tuition alone as it is expected to see beneficiaries through school.
RN
