Tinubu writes Senate to repeal, re-enact Student Loan Act

President Bola Tinubu on Thursday forwarded a letter to the Senate, seeking a repeal , and re-enactment of the Access to Higher Education Act, 2023, otherwise known as the Student Loan Act.

Tinubu’s request to the Federal Lawmakers was contained in a letter addressed to the Senate President, Godswill Akpabio and read during plenary.

The letter read: “Pursuant to Section 58(2) of the Constitution of The Federal Republic of Nigeria, 1999 (as amended). I forward, herewith, The Student Loan (Access to Higher Education) (Repeal and Re-Enactment) Bill, 2024 for the kind consideration of the Senate.

“The Student Loan (Access to Higher Education) (Repeal and Re- Enactment) Bill, 2024 seeks to enhance the implementation of the Higher Education Student Loan Scheme by addressing challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources and disbursement and repayment procedures.

READ ALSO:Tinubu orders expansion of student loan to cover those interested in skill growth

“Whilst hoping that this submission will receive the usual expeditious consideration of the Senate, please accept, the assurances of my highest consideration.”

Ripples Nigeria reports that on Tuesday the Federal Government postponed indefinitely the launch of the Nigerian Students Loan Scheme.

The Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, disclosed this during an interview with ARISE NEWS.

Recall that in June 2023, President Bola Tinubu signed a bill to start a Students Loan Fund that would give interest-free loans to Nigerians for higher education.

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