Update on Student Loans Program as Launch Approaches Tomorrow

In a significant step towards enhancing access to higher education, the Nigerian Education Loan Fund (NELFUND) is gearing up for the commencement of its student loans program on February 26, 2024. The inaugural meeting of the special committee overseeing the initiative was held recently, chaired by Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN).

The 11-member committee, in accordance with the Students Loans Act, comprises representatives from various Ministries, Departments, and Agencies. Akintunde Sawyerr, the Executive Secretary of NELFUND, serves as the committee's Secretary.

During the meeting, Chairman Yemi Cardoso emphasized the importance of leveraging the diverse experiences of committee members to ensure the success of the program. He highlighted that the initiative is a crucial project of the Bola Tinubu administration, aimed at benefiting underprivileged Nigerians. CONTINUE READING.....

The ongoing engagement with stakeholders will be intensified, according to Cardoso, to facilitate a smooth and trouble-free commencement of the student loans scheme.

NELFUND, established after the passage of the Access to Higher Education Act 2023 (Students Loan Act), operates under a legal framework designed to provide loans to indigent or low-income Nigerians for the payment of tuition fees. The act also seeks to enhance accessibility to higher education across the nation.

President Tinubu has envisioned the extension of the scheme to cover Nigerians undergoing vocational training, emphasizing the administration's commitment to providing educational opportunities beyond traditional pathways. CONTINUE READING.....

As the program prepares for its official launch tomorrow, it marks a significant milestone in the pursuit of inclusive and accessible higher education in Nigeria. Stay tuned for updates on this transformative initiative that promises to make education more attainable for a broader spectrum of the population.

Source: Daily Trust - Students Loans Committee Meets as Scheme Begins Feb. 26

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