The Federal Government plans to create a dedicated app for student loan scheme applications, as announced by Akintunde Sawyer, the Executive Secretary of the Student Loan Scheme Board.
This initiative aims to eliminate human intervention in the scheme, scheduled to commence this year, following a meeting with President Bola Tinubu in Abuja.
The decision follows President Tinubu’s fulfillment of his promise to sign the student loan bill on June 12th, Nigeria’s Democracy Day.
Sponsored by Speaker Femi Gbajabiamila, the bill establishes the Nigerian Education Loan Fund, providing interest-free loans for higher education access to disadvantaged Nigerians.
The program’s funds will be managed by the Ministry of Education, exclusively accessible to indigent students in tertiary institutions.