In an exclusive interaction with OrderPaper, Professor K.M Waziri says that the educational system has gotten “rotten for too long a time” and needs a holistic review, one after the other. Since its inception, the recently enacted Student Loan Act has encountered numerous hurdles and debates. President Bola Tinubu had on 3rd April 2024 signed the Student Loan Repeal and Re-enactment Bill into law at the State House of Assembly in Abuja. Before this, OrderPaper...
OrderPaper in this piece, highlights the chronicles of its intervention in the Student Loan Act as well as the genesis of the bill now turned Law. Tertiary education in Nigeria has faced several challenges, primarily funding with a significant impact on quality and access. In the 2024 budget, out of the N28.7 trillion approved by the National Assembly and passed by President Bola Tinubu, only N1.44 trillion was allocated to the education sector. Though this...
NANS proposed a minimum five-year repayment duration, saying that the two-year post-National Youth Service Corp (NYSC) repayment time frame for the loan is unrealistic. To tackle the limitations hindering easy access to the Students Loan Act, the National Association of Nigerian Students (NANS) has condemned the time frame for the repayment of the loan, tagging it as “unrealistic” because less than 10 per cent of Nigerian graduates get absorbed into the labour force upon completion...
President Tinubu forwarded a correspondence to the National Assembly seeking the repeal of the existing Act. President Bola Ahmed Tinubu has forwarded a letter to the Senate and the House of Representatives, seeking a repeal and re-enactment of the Access to Higher Education Act, 2023, otherwise known as the Student Loan Act. President Tinubu’s letter came in during Thursday’s plenary at both chambers a day after the announcement of a temporary suspension of the commencement...
The enactment of the student loan law is a unique initiative that provides students from low-income families access to higher education through interest-free loans and the financial flexibility it offers. Here are key provisions and consequential implications of the law On the 12th of June, 2023, the Access to Higher Education Bill, popularly known as the students loans scheme, was passed into law with the assent of President Bola Ahmed Tinubu. The Act aims...
