Students now can access loan to finance their studies as President Bola Ahmed Tinubu, on Monday signed the 2023 Student Loan Act into law.
President Tinubu assented to the bill passed by the 9th National Assembly on Monday at the Presidential Villa, Abuja.
Signing the bill into law was part of measures to boost educational access and delivery at the tertiary level, according to the Permanent Secretary in the Federal Ministry of Education, Andrew Adejo, and a senior aide to the President, Dele Alake.
Alake, who explained that the act will ensure indigent students access the loans to further their education, said the initiative was one of Tinubu’s promises during his electioneering campaigns.
He said: “Today, President Bola Ahmed Tinubu has just signed the Student Loan Act. This is just in fulfilment of his promise during the electioneering campaigns, where he promised that students would access loans to go to school.”
Also, Adejo disclosed that the Federal Scholarship Board, which already exists, was starved of funds and needed an enabling act to work properly.
He said now an enabling act is in place, adding that the processes for hitch-free access to education loans will be much easier.