Student Loan Scheme To Commence January 2024

President Bola Tinubu has stated that the student loan plan will begin in January 2024.

Tinubu, addressing on Monday at the National Economic Summit 2023 in Abuja, assured Nigerian students that the age of unending strikes will be over.

“By January 2024, the new student loan must commence. To the future of our children and students, we are saying no more strikes,” he said.

In honor of June 12, President Tinubu signed the student loan bill into law, fulfilling a campaign promise.

The measure, introduced by Femi Gbajabiamila, now Chief of Staff to the President, offers underprivileged Nigerians with easy access to higher education through interest-free loans from the Nigerian Education Loan Fund.

The program’s finances will be housed at the Ministry of Education and will only be available to impoverished tertiary students.

The move comes just days after Tinubu lifted the previous administration’s ‘no-work, no pay policy’ imposed on members of the Academic Staff Union of Universities (ASUU).

The university lecturers had gone on strike for eight months to pursue their demands, which included inadequate school financing.


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