Despite Education Minister’s Assurance, FG Misses January Commencement Date For Student Loan Scheme

The Federal Government’s Student Loan Scheme is yet to commence despite the assurance of the Minister of State for Education, Dr Yusuf Sununu that the January take-off date will be achieved.

THE WHISTLER recalls that the minister who briefed State House Correspondents two weeks ago after the first Federal Executive Council meeting for 2024, had stated that the website for application was almost done and will be open for students soon.

“January is a reality. Already, the website is almost done. Application for beneficiaries is going to be online, and you can access your loan within 30 days,” he had said.

However, the website for the scheme is yet to be opened to Nigerian students who are eagerly waiting to apply for the loan.

President Muhammadu Buhari signed the Student Loan bill into law last year. The Act allows Nigerian students in tertiary institutions to access interest-free loans from the Nigerian Education Loan Fund (NELFUND).

However, President Bola Tinubu recently instructed the management of NELFUND to expand its focus area to Nigerian students interested in skills development programme.

“I am not sure if expanding this scheme to cover skill development was part of the current Act but if the Federal Government feels this scheme should cover other parts of education and not just tertiary education, then this will have to be effected and amended in the Act.

“They will have to propose this amendment and we will look at it and see how it fit in the overall objective of the student loan scheme.

“The Student Loan Act says tertiary education, skill acquisition is not a tertiary education so if we are extending this scheme to look at skill acquisition, then we might have to look at how to completely rewrite or re-do the Act.

“As it is currently written, I don’t think it is a bad idea but I think that we have to look at it holistically so that we don’t just throw in policies and ideas that may be at variance at what the student loan scheme hopes to achieve,” he said.

Ugbor however stated that arrangements are being made for the scheme to take off in March after some amendments have been made.