In fulfillment of his campaign promise, President Bola Tinubu has signed the Student Loan Bill into law.
Spokesperson to the Federal Government, Dele Alake, announced on Monday that the funds will be held in the Ministry of Education and only accessible by financially challenged students in tertiary institutions.
Sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, the bill passed its third reading two weeks ago, providing interest-free loans to financially challenged Nigerian students.
The Nigerian Education Loan Fund will administer the law aimed at making higher education accessible to needy Nigerians.
