• Wednesday, April 24, 2024
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Senate passes Student Loan Bill

Student loan: NELFUND targets 1.2m beneficiaries in first pay-out

The Nigerian Senate has passed the student loan (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.

The upper legislative chamber passed the Bill for third reading  after considering the report of the senate committee on tertiary institutions and TETFUND.

The Senate, had last week Thursday, passed the Bill for a second reading. The bill,  sponsored by Bamidele Opeyemi,  the Senate leader, among others seeks to establish the Nigeria Education Loan Fund as a body corporate to receive  manage and invest funds, to provide loans for higher education, vocational training and skills acquisition.

Read also: Student loan scheme: Timeline of unmet expectations

The Bill will be transmitted to President Bola Tinubu for assent.