PressPayNg Set to Support Student Loan Bill
PressPayNg, Africa’s tertiary education financing digital platform, has lauded President Bola Tinubu for taking the step to empower students and improve their access to higher education by signing into law the Student Loan Bill.
In a statement, the firm said the legislation will help youths to access funding to actualise their higher education dreams with less stress.
It added that the development would bridge the funding gap experienced by young Nigerians who desire higher education and equally open doors of opportunity for their academic pursuits and their families, enabling them to focus on their studies and unleash their true potential.
Following the signing of the Student Loan Bill into law by Tinubu, PressPayNg has restated its commitment to support the Federal Government and other stakeholders to ensure seamless and successful implementation of the provisions of the law.
The historic legislation demonstrates the President’s genuine concern for the welfare and future of students. By prioritising education and working in partnership with private stakeholders, the President has reaffirmed his commitment to ensuring that every student has the opportunity to fulfill his or her educational dreams.
The Student Loan Bill represents the government’s commitment to fostering an environment where every student has the means to pursue their educational aspirations, regardless of their financial background.
With this legislation, the government aims to alleviate the burden of educational expenses and bridge the financial gap that often hinders students from obtaining a quality education.
The act will provide interest-free loans to students which means they would only be required to pay back the exact amount collected. The act will also see that the students have equal rights to access the loans without any form of discrimination of any kind. This will significantly alleviate the financial burden.
Commenting on the signing of the Students Loan Bill into law and its significance, the Chief Executive Officer of PressPayNg, Abiola Metilelu, said, “by signing the Student Loan Bill, President Bola Tinubu has set in motion a transformational shift in Nigeria’s educational landscape. The legislation not only enables students to pursue their academic aspirations but also empowers them to become catalysts for positive change within their communities and the nation at large. It fosters a culture of academic excellence, enabling students to unlock their full potential and contribute meaningfully to the socio-economic growth of Nigeria’’.
He added that, ‘’there is intensifying demand for expanded access to good quality tertiary education. PressPayNg is committed to providing financing opportunities for higher education and believes in the power of education to transform lives. Through our innovative approach to education financing, we have successfully empowered countless students to pursue their dreams and achieve academic excellence. Our comprehensive range of financial solutions and programs align perfectly with the goals of the Student Loan Bill, making us the ideal partner to support this historic initiative’’
PressPayNg, a trailblazing education finance firm has already deployed a digital platform/app for young Nigerians to fund their tertiary education fees through target savings, scholarships, loans and crowdfunding. The platform is a value proposition that is expected to help over 1,500,000 million young Nigerians in the next two years to actualize their higher education dreams. So far, the firm has reached and on-boarded over 200,000 Nigerian students and parents by providing convenient opportunities to secure and creative funding solutions for tertiary education.
PressPayNg expressed optimism that collaborating with the federal government will ensure that drop-out rate of the country significantly reduces by leveraging on the firm’s expertise and resources to efficiently disburse loans to deserving students across the country.
Source: The Nation
