The National Assembly has passed the student loan bill.
The Senate and the House of Representatives make up the national assembly in Nigeria
The bill was considered in both houses on Wednesday and was given accelerated hearing.
It scaled first, second, and third readings in both houses during plenary.
The bill was considered on the floor of the upper house after the committee’s report on tertiary institutions and TETFUND.
The committee’s chairman, Senator Muntari Dandutse (APC-Katsina South) presented the report of the bill called the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.
The bill became necessary following some anomalies which the administration of Bola Tinubu said had made it unworkable after being signed into law in June as soon as he assumed office.
President Bola Tinubu had on March 14 written to the National Assembly to repeal and reenact the student loan bill.
The Student Loan (Access to Higher Education) (Repeal and Re-enactment) Bill, 2024 seeks to 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, and disbursement and repayment procedures.
