Nigeria’s Student Loan Scheme Delayed


The Federal Government’s plan to launch the Nigerian Students Loan Scheme has faced yet another setback, with the launch being postponed indefinitely. This delay was confirmed by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, during an interview with Arise News.

Originally scheduled to commence on Thursday, the scheme’s launch has been postponed due to ongoing corrections and alignment of stakeholders. Sawyer emphasized the importance of ensuring that all stakeholders are on board to ensure a meaningful, comprehensive, and sustainable rollout.

The scheme, established by President Bola Tinubu in June 2023, aims to provide interest-free loans to Nigerians for higher education. Despite the initial target to start between September and October 2023, the program has faced delays, with President Tinubu announcing a new commencement date of January 2024 after missing the October deadline.

Preparations for the scheme, including the development of the Student Loan Scheme website, had been completed by January, as announced by the Minister of State for Education, Yusuf Sununu. However, the launch has been postponed once more, pending the completion of additional features, such as vocational studies.

This delay is disappointing for many students and parents who had hoped for timely access to affordable higher education. The postponement underscores the need for better coordination and efficiency in implementing such critical programs to support education and youth development in Nigeria.

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