JUST IN: Senate Passes Amended Student Loan Bill Into Law

Include Grants In Student Loan Bill, NANS Tells Senate

Passes Amended Loan Bill Into Law

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The Senate, on Wednesday, passed the Student Loan Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.

The development followed the consideration and adoption of a report of the Senate Committee on Tertiary Institutions and Tertiary Education Fund (TETFund), presented by the chairman of the committee, Muntari Dandutse (, Katsina South) at plenary.

Recall that the Bill had last week passed a second reading stage in both the Senate and of Representatives.

LEADERSHIP reports that President had last week written to the Senate and the , seeking the repeal of the Student Loan (Access to Higher Education) Bill, and to enact a new one.

The new Act will 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, disbursement and repayment procedures.

's action came after the announcement of a temporary suspension of the commencement of the student loan scheme. The law was put in place to allow Nigerian in tertiary institutions to access low-interest loans to complete their studies.

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