Tinubu Set To Launch Student Loan Scheme July 17

The Federal Government is set to launch the Student Loan Scheme on Wednesday, July 17, 2024, marking the formal commencement of the programme’s implementation.

Recall that the President had a few weeks ago approved ₦35 billion for the scheme’s take-off, targeting 70,000 initial applicants. The student loan scheme aims to provide financial support, including school fees and stipends, to eligible students nationwide.

The Governing Board of the Nigerian Education Loan Fund (NELFund), chaired by Mr. Jim Ovia, had approved the disbursement of loans to successful applicants during its inaugural meeting in Abuja last month.

“By approving the immediate disbursement of the loans, (NELFund) has taken a critical step in fulfilling its mission to support education and empower the next generation of leaders,” the agency said in a statement.

Over 1.2 million students are expected to benefit from the first phase of the programme.

Source: Leadership