The Federal Ministry of Education has announced that the implementation of the Students Loans scheme is scheduled to commence during the 2023/2024 academic session.
This disclosure was made by David Adejo, the Permanent Secretary of the ministry, during a meeting with the House of Representatives Committee on Students Loans.
Adejo also dispelled rumours that the signing of the Students Loan Act had prompted several federal universities to increase their charges.
He emphasized that President Bola Tinubu has directed the completion of necessary work on the modalities for the students’ loan implementation, with a target start date in September 2023.
Adejo further stated that the president has established a coordinating committee, with the Chief of Staff serving as the chairman, adding that the committee comprises key entities such as the Central Bank of Nigeria, the Federal Budget Office, the Ministry of Education, the Ministry of Finance, and others.
He noted that the committee has additionally established a technical team tasked with establishing a solid framework for initiating the program and addressing any legal obstacles that could hinder Nigerians’ access to the loan.
While saying the recent increase in charges by federal universities in the country was unfortunate, Adejo explained that no federal University in the country was allowed to collect tuition fees from students.
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