The Senate and House of Representatives have passed through third Reading the Student Loan – Access to Higher Education amendment bill, 2024.
The Senate had given the Bill accelerated hearing by suspending relevant sections of its standing rules and referred the Bill to the Committee of the Whole for consideration after the presentation of the report by the Chairman of the Senate Committee on Tertiary Institutions and TETFUND, Muntari Dandutse.
The Bill seeks to provide easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund established in the Act to provide education for all Nigerians.
On the repayment of loans by beneficiaries, the proposed bill stipulates that beneficiary of the Fund shall begin as soon as the beneficiary becomes employed in any capacity.
The bill also makes provision for loan forgiveness in the event of death or acts of God causing inability to repay.
