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FULL LIST: 5 Categories of People Banned From Tinubu Govt's Student Loan
Education

FULL LIST: 5 Categories of People Banned From Tinubu Govt's Student Loan

by  Ridwan Adeola 2 min read
  • President Bola Ahmed Tinubu, on Wednesday, April 3, signed the student loans (access to higher education) act (repeal and re-enactment) bill, 2024, into law
  • The presidency said the student loan scheme is building an army of skilled workforce that can easily become self-employed and increase Nigeria's productive base
  • However, Legit.ng reports that not all undergraduates are eligible for the initiative branded "unprecedented in the history of education in Nigeria"

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Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering education in Nigeria and worldwide.

FCT, Abuja - President Bola Tinubu on Wednesday, April 3, finally signed the national students loan amendment bill into law.

The federal government's mission is to offer financial assistance to indigent Nigerian students in tertiary institutions.

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Some tertiary institution students don't have access to the student loan scheme
President Tinubu on Wednesday, April 3, signed the student loan bill into law. Photo credit: Asiwaju Bola Ahmed Tinubu
Source: Facebook

It is understood that the scheme offers loans to students to cover the cost of tuition and other schooling expenses.

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In what has been described as "unprecedented in the history of education in Nigeria", Dada Olusegun, a presidential aide said that a four-year undergraduate course can get a N2 million financial package.

Amid the development on Wednesday, April 3, five categories of people are deemed ineligible to take the loan.

Courtesy Nigerian Tribune, Legit.ng highlights these people below:

  1. Applicant found guilty of exam malpractice by any school authority.
  2. Applicant who has been proven to have defaulted in respect of any previous loan granted by any organisation.
  3. Applicant with a criminal record of felony or any offence involving dishonesty or fraud.
  4. Applicants whose parents (father or mother) have defaulted in respect of student loans or any loan granted to him or her.
  5. Anyone who has been convicted of drug offences.

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Read more about student loans:

How students will access loans

Legit.ng earlier reported that the executive secretary of the Nigeria Education Loan Fund (NELFUND), Akintunde Sawyerr, explained how the student loan would be accessed by interested citizens.

Sawyerr disclosed that there will be no human contact in accessing the loan as everything will be automated and funds for successful students will be transferred to the schools’ accounts.

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Source: Legit.ng

Authors:
Ridwan Adeola avatar

Ridwan Adeola (Current Affairs Editor) Ridwan Adeola Yusuf is a content creator with more than nine years of experience, He is also a Current Affairs Editor at Legit.ng. He holds a Higher National Diploma in Mass Communication from the Polytechnic Ibadan, Oyo State (2014). Ridwan previously worked at Africa Check, contributing to fact-checking research works within the organisation. He is an active member of the Academic Excellence Initiative (AEI). In March 2024, Ridwan completed the full Google News Initiative Lab workshop and his effort was recognised with a Certificate of Completion. Email: ridwan.adeola@corp.legit.ng.

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